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EXHIBIT 12
O'CHARLEY'S INC.
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
40 WEEKS ENDED
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OCTOBER 6, OCTOBER 5,
1998 1999 2000 2001 2002 2002 2003
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FIXED CHARGES
Interest Expense 2,705 4,052 7,260 6,412 5,176 4,029 9,547
Capitalized Interest 202 230 392 438 290 235 230
Amortized premiums, discounts, and capitalized
expenses related to indebtedness 96 122 138 198 380 176 878
Estimated interest in rental expense (See below) 1,667 1,958 2,293 2,674 2,799 2,160 5,254
Total fixed charges 4,670 6,362 10,083 9,722 8,645 6,600 15,909
CALCULATION OF ESTIMATED INTEREST
IN RENTAL EXPENSE
Rent expense 5,007 5,880 6,886 8,031 8,406 6,485 15,779
Interest component per norm 33.3% 33.3% 33.3% 33.3% 33.3% 33.3% 33.3%
Implied interest in rent 1,667 1,958 2,293 2,674 2,799 2,160 5,254
CALCULATION OF EARNINGS
Net earnings, before taxes and cumulative
effect of change in accounting principle 19,846 24,783 29,785 26,899 41,059 30,550 27,528
Fixed charges 4,670 6,362 10,083 9,722 8,645 6,600 15,909
Less capitalized interest (202) (230) (392) (438) (290) (235) (230)
Earnings 24,314 30,915 39,476 36,183 49,414 36,915 43,207
Ratio of earnings to fixed charges 5.21 4.86 3.92 3.72 5.72 5.59 2.72