EXHIBIT 12.1
TRIARC CONSUMER PRODUCTS GROUP, LLC AND RELATED COMPANIES
UNAUDITED COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
PRO
HISTORICAL FORMA(a)
-------------------------------------------------------- ----------
YEAR ENDED DECEMBER 31, YEAR ENDED YEAR ENDED JANUARY 3,
----------------------------- DECEMBER 28, ----------------------
1994 1995 1996 1997 1999 1999
---- ---- ---- ---- ---- ----
(IN THOUSANDS EXCEPT RATIOS)
Income (loss) before income
taxes and extraordinary $(3,773) $(45,606) $(74,996) $(24,128) $ 55,271 $ 37,394
charges......................
------- -------- -------- -------- -------- --------
Fixed charges:
Interest expense.......... 34,433 42,386 50,031 58,019 60,235 78,935
Interest portion of rent
expense(b).............. 4,538 6,884 8,094 5,052 2,488 2,594
------- -------- -------- -------- -------- --------
38,971 49,270 58,125 63,071 62,723 81,529
------- -------- -------- -------- -------- --------
Adjusted earnings (loss) before
income taxes and
extraordinary charges........ $35,198 $ 3,664 $(16,871) $ 38,943 $117,994 $118,923
------- -------- -------- -------- -------- --------
------- -------- -------- -------- -------- --------
Amount by which earnings were
insufficient to cover fixed
charges...................... $ 3,773 $ 45,606 $ 74,996 $ 24,128
------- -------- -------- --------
------- -------- -------- --------
Ratio of earnings to fixed
charges...................... 1.9x 1.5x
-------- --------
-------- --------
PRO
HISTORICAL FORMA(a)
-------------------- ---------
SIX MONTHS ENDED
---------------------------------
JULY 4,
JUNE 28, --------------------
1998 1999 1999
---- ---- ----
(IN THOUSANDS EXCEPT RATIOS)
Income before income taxes and extraordinary charges........ $18,134 $15,707 $11,499
------- ------- -------
Fixed charges:
Interest expense....................................... 29,828 36,562 39,564
Interest portion of rent expense(b).................... 1,358 1,072 1,117
------- ------- -------
31,186 37,634 40,681
------- ------- -------
Adjusted earnings before income taxes and extraordinary
charges................................................... $49,320 $53,341 $52,180
------- ------- -------
------- ------- -------
Ratio of earnings to fixed charges.......................... 1.6x 1.4x 1.3x
------- ------- -------
------- ------- -------
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(a) The pro forma information has been determined by adjusting the results of
operations of the Company for the year ended January 3, 1999 and the six
months ended July 4, 1999 to give effect to the offering, the new credit
facility and the related use of proceeds, including the acquisition of
Millrose. Such pro forma information is derived from the pro forma
condensed consolidated statements of operations contained elsewhere herein
and should be read in conjunction therewith and with the notes thereto.
(b) Represents one-third of rental expense deemed for this purpose to represent
the interest component of rental payments.