EX-12 5 tv502305_ex12.htm EXHIBIT 12

Exhibit 12

The Marcus Corporation

Ratio of Earnings to Fixed Charges

(dollars in thousands)

		26 Weeks												31 Weeks
		Ended				Fiscal Years Ended								Ended				Fiscal Years Ended
		6/28/2018				12/28/2017				12/29/2016				12/31/2015				5/28/2015				5/29/2014				5/30/2013
Earnings:
Earnings before income taxes		$	38,146			$	68,110			$	60,533			$	38,228			$	39,320			$	37,709			$	34,681
Add (Less): loss (earnings) attributable to noncontrolling interests			(78	)			511				363				122				353				4,102				(5,825	)
Add (Less): Equity losses (earnings) from  unconsolidated joint ventures, net			(252	)			(46	)			(301	)			36				186				250				450
Add: Fixed charges (below)			8,512				16,161				13,046				8,001				13,676				14,378				13,864
Add: Amortization of capitalized interest			19				33				29				23				42				36				34
Add: Distributions from unconsolidated  joint ventures			64				377				560				152				166				120				120
Less: Capitalized interest			(31	)			(400	)			(277	)			(32	)			(194	)			(256	)			(75	)
Total Earnings		$	46,380			$	84,746			$	73,953			$	46,530			$	53,549			$	56,339			$	43,249
Fixed Charges:
Interest expensed		$	6,675			$	11,792			$	8,873			$	5,675			$	9,477			$	10,060			$	9,309
Interest capitalized			31				400				277				32				194				256				75
Amortized debt issuance costs			145				308				303				258				449				491				348
Estimate of interest within rental expense			1,661				3,661				3,593				2,036				3,556				3,571				4,132
Total Fixed Charges		$	8,512			$	16,161			$	13,046			$	8,001			$	13,676			$	14,378			$	13,864
Ratio of Earnings to Fixed Charges (unaudited)			5.45				5.24				5.67				5.82				3.92				3.92				3.12