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EXHIBIT 12-1
CKE RESTAURANTS, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
FISCAL YEAR ENDED JANUARY 31,
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1999 1998 1997 1996 1995
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(DOLLARS IN THOUSANDS)
Earnings before fixed charges:
Income before income taxes and
extraordinary item................ $124,097 $ 76,640 $36,710 $17,953 $ 2,398
Fixed charges........................ 65,854 32,901 19,840 18,521 17,736
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$189,951 $109,541 $56,550 $36,474 $20,134
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Fixed charges:
Interest expense..................... $ 43,453 $ 16,914 $ 9,877 $10,004 $ 9,202
Interest component of rent
expense(1)........................ 22,401 15,987 9,963 8,517 8,534
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$ 65,854 $ 32,901 $19,840 $18,521 $17,736
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Ratio of earnings to fixed charges..... 2.9x 3.3x 2.9x 2.0x 1.1x
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(1) Calculated as one-third of total rent expense.