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EXHIBIT 12.01
RED ROOF INNS, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSANDS)
1994 1995 1996
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Income before income taxes $ 28,100 $ 30,838 $ 39,676
Fixed charges, excluding capitalized interest 55,491 55,016 45,984
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Earnings before fixed charges $ 83,591 $ 85,854 $ 85,660
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Fixed charges:
Rent expense $ 9,952 $ 11,269 $ 12,622
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Portions of rent representative of an $ 3,317 $ 3,756 $ 4,207
interest factor (1/3)
Interest expense 52,174 51,260 41,777
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Fixed charges, excluding capitalized interest 55,491 55,016 45,984
Capitalized interest 1,547 2,841
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Total fixed charges $ 55,491 $ 56,563 $ 48,825
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Ratio of earnings to fixed charges 1.5 x 1.5 x 1.8 x
45