EXHIBIT 12.1 TRIARC COMPANIES, INC. UNAUDITED COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES HISTORICAL PRO FORMA(a) --------------------------------------------------------------------- ------------- FISCAL YEAR EIGHT MONTHS ENDED ENDED YEAR ENDED DECEMBER 31, YEAR ENDED DECEMBER 28, APRIL 30, DECEMBER 31, ----------------------------- ------------------------ 1993 1993 1994 1995 1996 1997 1997 ----------- ------------ -------- -------- ------- -------- ------------- (IN THOUSANDS) Loss from continuing operations before income taxes and minority interests........... $ (49,190) $(31,770) $(12,987) $(41,976) $(3,935) $(23,090) $ (30,314) ----------- ------------ -------- -------- ------- -------- ------------- Fixed charges: Interest expense.......... 72,815 44,799 72,866 84,126 71,025 71,648 86,688 Interest portion of rent expense(b).............. 9,594 4,449 7,186 8,924 9,724 7,046 5,672 ----------- ------------ -------- -------- ------- -------- ------------- 82,409 49,248 80,052 93,050 80,749 78,694 92,360 ----------- ------------ -------- -------- ------- -------- ------------- Adjusted earnings before income taxes, minority interests, extraordinary items and cumulative effect of changes in accounting principles..... $ 33,219 $ 17,478 $ 67,065 $ 51,074 $76,814 $ 55,604 $ 62,046 ----------- ------------ -------- -------- ------- -------- ------------- ----------- ------------ -------- -------- ------- -------- ------------- Amount by which earnings were insufficient to cover fixed charges(c)................... $ 49,190 $ 31,770 $ 12,987 $ 41,976 $ 3,935 $ 23,090 $ 30,314 ----------- ------------ -------- -------- ------- -------- ------------- ----------- ------------ -------- -------- ------- -------- ------------- - ------------ (a) The pro forma information has been determined by adjusting the results of operations of the Company for the year ended December 28, 1997 to give effect to the 1997 Transactions, the Offering and the Equity Repurchase. Such pro forma information is derived from the pro forma condensed consolidated statement of operations contained elsewhere herein and should be read in conjunction therewith and the notes thereto. (b) Represents approximately one-third of rent expense deemed for this purpose to represent the interest component of rental payments. (c) Earnings were insufficient to cover fixed charges for all periods presented.