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EXHIBIT 12-1
CKE RESTAURANTS, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF DEBT TO EQUITY
FISCAL YEAR ENDED JANUARY 31
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1997 1996 1995 1994 1993
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(Amounts in thousands)
Debt:
Current portion of long-term debt . . . . . . . . . . . . $ 735 $ 8,575 $ 8,168 $ 13,207 $ 28,467
Current portion of capital lease obligations . . . . . . 4,766 3,745 3,581 3,354 3,158
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5,501 12,320 11,749 16,561 31,625
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Long-term debt . . . . . . . . . . . . . . . . . . . . . 33,770 30,321 27,178 17,414 31,742
Capital lease obligations . . . . . . . . . . . . . . . . 48,141 40,233 42,691 45,886 48,512
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81,911 70,554 69,869 63,300 80,254
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$ 87,412 $ 82,874 $ 81,618 $ 79,861 $111,879
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Stockholders' equity:
Common stock . . . . . . . . . . . . . . . . . . . . . . $ 332 $ 288 $ 283 $ 280 $ 272
Additional paid-in capital . . . . . . . . . . . . . . . 126,279 38,617 35,024 33,648 28,521
Retained earnings . . . . . . . . . . . . . . . . . . . . 88,193 67,393 57,725 58,148 55,939
Treasury stock . . . . . . . . . . . . . . . . . . . . . -- (5,109) (4,558) -- --
-------- -------- -------- -------- --------
$214,804 $101,189 $ 88,474 $ 92,076 $ 84,732
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Ratio of debt to equity . . . . . . . . . . . . . . . . . 0.4x 0.8x 0.9x 0.9x 1.3x
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