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EXHIBIT 12.1

FOGO DE CHAO, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(IN THOUSANDS, EXCEPT RATIOS)

 

                             Successor      Predecessor  
     Fiscal Year Ended     Period from
May 24		      Period from
January 2		  
     January 1,
2017		     January 3,
2016		     December 28,
2014		     December 29,
2013		     to December 30,
2012(1)(2)		      to July 20,
2012(1)(3)		  

Earnings:

                

Income (loss) before income taxes

      36,219       13,829       24,264       1,535       (10,227 )       (7,590 ) 

Add/(Deduct):

                
 

Fixed charges

      12,079       17,227       25,293       31,068       14,156        11,323  
 

Capitalized interest

      (107 )      (123 )      (158 )      (585 )      (106 )       (200 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  
 

Earnings

      48,191       30,933       49,399       32,018       3,823        3,533  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  
 

Fixed Charges:

                
 

Interest expensed

      4,387       9,975       17,937       22,862       10,914        7,701  
 

Interest capitalized

      107       123       158       585       106        200  

Amortization of deferred financing costs

      577       1,001       1,573       2,443       1,237        1,034  

Estimate of interest in rent expense(4)

      7,008       6,128       5,625       5,178       1,899        2,388  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  
 

Total fixed charges

      12,079       17,227       25,293       31,068       14,156        11,323  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  
 

Ratio of Earnings to Fixed Charges

      3.99       1.80       1.95       1.03       0.27        0.31  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

 

(1) The Company was incorporated under the name Brasa (Parent) Inc. on May 24, 2012 in connection with the acquisition on July 21, 2012 of Fogo de Chão Churrascaria (Holdings) LLC, a Delaware limited liability company, and its parent company, FC Holdings Inc., a Cayman Islands exempt company, by a collaborative group consisting of funds affiliated with Thomas H. Lee Partners, L.P. and other minority investors (the “Acquisition”).
(2) The ratio is for the period in 2012, after the Company was incorporated under the name Brasa (Parent) Inc.
(3) The ratio is for the period in 2012, before the Acquisition.
(4) Estimate of interest within rent expense is calculated under the assumption that one-third of rent expense is representative of interest costs which is a reasonable approximation of the interest factor.