Exhibit 12.1
Ruth’s Hospitality Group, Inc.
Calculation of Ratio of Earnings to Fixed Charges
Ratio of Earnings to Fixed Charges (1) (in millions of U.S. dollars except for ratios) | Fiscal Year Ended | Fiscal Quarter ended 3/29/2009 | |||||||||||||||||
12/26/2004 | 12/25/2005 | 12/31/2006 | 12/30/2007 | 12/28/2008 | |||||||||||||||
Earnings (losses): | |||||||||||||||||||
Net income (loss) before taxes | $ | 7.0 | $ | 15.8 | $ | 33.8 | $ | 26.7 | $ | (80.6 | ) | $ | 4.7 | ||||||
Add | |||||||||||||||||||
Fixed charges | 14.4 | 11.4 | 7.8 | 11.3 | 21.4 | 5.3 | |||||||||||||
Earnings (losses) as defined | $ | 21.4 | $ | 27.2 | $ | 41.6 | $ | 38.0 | $ | (59.2 | ) | $ | 10.0 | ||||||
Fixed charges: | |||||||||||||||||||
Interest expense | $ | 10.3 | $ | 8.5 | $ | 2.9 | $ | 6.0 | $ | 10.3 | $ | 2.3 | |||||||
Estimated interest component of rent | 4.1 | 2.9 | 4.9 | 5.3 | 11.1 | 3.0 | |||||||||||||
Total fixed charges | $ | 14.4 | $ | 11.4 | $ | 7.8 | $ | 11.3 | $ | 21.4 | $ | 5.3 | |||||||
Deficiency of earnings available to cover fixed charges (2) | — | — | — | — | 80.6 | — | |||||||||||||
Ratio of earnings to fixed charges | 1.5 | 2.4 | 5.3 | 3.4 | — | 1.9 | |||||||||||||
Preference dividends | $ | 5.4 | $ | 3.7 | — | — | — | — | |||||||||||
Ratio of earnings to combined fixed charges and preference dividends | 1.1 | 1.8 | 5.3 | 3.4 | — | 1.9 | |||||||||||||
(1) | For purposes of computing the ratios of earnings to fixed charges and earnings to combined fixed charges and preference dividends, “fixed charges” consist of interest expense and estimated interest component of rent, and “earnings” consist of net earnings (loss) from continuing operations applicable to common stock shareholders before income taxes plus fixed charges. |
(2) | Earnings were insufficient to cover combined fixed charges by $80.6 million in 2008. |