EXHIBIT 12.1
FRIENDLY ICE CREAM CORPORATION AND SUBSIDIARIES
SCHEDULE OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS)
SIX MONTHS ENDED
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1992 1993 1994 1995 1996 JUNE 30, 1996 JUNE 29, 1997
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Earnings
Income (loss) before (provision
for) benefit from income taxes
and cumulative effect of
changes in accounting
principles..................... $ (12,121) $ (30,670) $ (8,597) $ (25,234) $ (13,640) $ (14,180) $ (7,684)
Interest and amortization of
deferred finance costs......... 37,630 38,786 45,467 41,904 44,141 22,138 22,238
Implicit rental interest
expense........................ 4,986 5,171 5,590 5,729 5,990 2,924 2,937
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Total earnings................. 30,495 13,287 42,460 22,399 36,491 10,882 17,311
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Fixed Charges
Interest and amortization of
deferred finance costs......... 37,630 38,786 45,467 41,904 44,141 22,138 22,238
Capitalized interest............. 128 156 176 62 49 35 17
Implicit rental interest
expense........................ 4,986 5,171 5,590 5,729 5,990 2,924 2,937
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Total fixed charges............ 42,744 44,113 51,233 47,695 50,180 25,097 25,192
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Earnings insufficient to cover
fixed charges.................... $ 12,249 $ 30,826 $ 8,773 $ 25,296 $ 13,689 $ 14,215 $ 7,881
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TWELVE MONTHS
ENDED
JUNE 29, 1997
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Earnings
Income (loss) before (provision
for) benefit from income taxes
and cumulative effect of
changes in accounting
principles..................... $ (7,324)
Interest and amortization of
deferred finance costs......... 44,241
Implicit rental interest
expense........................ 6,003
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Total earnings................. 42,490
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Fixed Charges
Interest and amortization of
deferred finance costs......... 44,241
Capitalized interest............. 31
Implicit rental interest
expense........................ 6,003
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Total fixed charges............ 50,275
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Earnings insufficient to cover
fixed charges.................... $ 7,355
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