IHOP 2014 Annual Report Download - page 122
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Exhibit 12.1
DINEEQUITY, INC.
Computation of Leverage Ratio and Debt Service Coverage Ratio
for the Trailing Twelve Months Ended December 31, 2014
(In thousands, except ratios)
Leverage Ratio Calculation:
Indebtedness, net (1) .................................................................................................................... $ 1,326,586
Covenant Adjusted EBITDA(1)................................................................................................... 277,026
Leverage Ratio ........................................................................................................................... 4.8
Debt Service Coverage Ratio (DSCR) Calculation:
Net Cash Flow (1) ........................................................................................................................ $ 277,987
Debt Service (1) ........................................................................................................................... 56,727
DSCR ......................................................................................................................................... 4.9
(1) Definitions of all components used in calculating the above ratios are found in the Base Indenture and the related
Series 2014-1 Supplement to the Base Indenture, dated September 30, 2014, filed as Exhibits 4.1 and 4.2,
respectively, to our Current Report on Form 8-K filed on October 3, 2014.