Form: S-4/A

Registration of securities issued in business combination transactions

June 2, 2017

S-4/A: Registration of securities issued in business combination transactions

Published on June 2, 2017


EXHIBIT 12.1

 

AMC ENTERTAINMENT INC. AND SUBSIDIARES

RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in thousands)

 

EXHIBIT 12.1

RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

 

 

 

 

 

 

 

 

 

 

From

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Inception

 

 

 

 

 

3 Months

 

12 Months

 

12 Months

 

12 Months

 

12 Months

 

August 31, 2012

 

March 30, 2012

 

 

 

Ended

 

Ended

 

Ended

 

Ended

 

Ended

 

through

 

through

 

 

 

March 31, 2017

 

December 31, 2016

 

December 31, 2015

 

December 31, 2014

 

December 31, 2013

 

December 31, 2012

 

 

August 30, 2012

 

 

 

(Successor)

 

(Successor)

 

(Successor)

 

(Successor)

 

(Successor)

 

(Successor)

 

 

(Predecessor)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EARNINGS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) from continuing operations before income taxes or equity in (earnings) losses of non-consolidated entities

 

$

1,481

 

$

101,921

 

$

126,400

 

$

70,622

 

$

52,286

 

$

(36,002

)

 

$

54,202

 

Add:Fixed charges (below)

 

122,886

 

290,259

 

262,232

 

273,000

 

291,347

 

94,923

 

 

135,487

 

Amortization of capitalized interest

 

182

 

740

 

813

 

986

 

—

 

—

 

 

549

 

Distributed income of equity investees

 

24,397

 

40,052

 

34,083

 

35,243

 

31,501

 

10,226

 

 

7,051

 

Less:Interest capitalized (below)

 

(100

)

(234

)

(203

)

(315

)

(511

)

—

 

 

(14

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings for ratio

 

148,846

 

432,738

 

423,325

 

379,536

 

374,623

 

69,147

 

 

197,275

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on borrowings

 

51,122

 

110,731

 

96,857

 

111,072

 

129,963

 

45,259

 

 

67,614

 

Interest on capital and financing lease obligations

 

10,793

 

10,806

 

9,231

 

9,867

 

10,264

 

1,873

 

 

2,390

 

Interest capitalized

 

100

 

234

 

203

 

315

 

511

 

—

 

 

14

 

Estimated interest portion of rental expense (1)

 

60,871

 

168,488

 

155,941

 

151,746

 

150,609

 

47,791

 

 

63,029

 

Estimated interest portion of rental expense (1)-discontinued operations

 

—

 

—

 

—

 

—

 

—

 

—

 

 

2,441

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges

 

122,886

 

290,259

 

262,232

 

273,000

 

291,347

 

94,923

 

 

135,487

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES IN EXCESS OF EARNINGS

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

25,776

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

1.2

 

1.5

 

1.6

 

1.4

 

1.3

 

 

 

 

1.5

 

 

The ratio of earnings to fixed charges represents the number of times fixed charges are covered by earnings.  For purposes of computing this ratio, earnings consist of earnings (loss) from continuing operations before income taxes or equity in (earnings) losses of non-consolidated entities, plus fixed charges (excluding capitalized interest), amortization of capitalized interest, and distributed income of equity investees.  Fixed charges consist of interest expense, interest capitalized and one-third of rent expense on operating leases, estimated by the Company to be representative of the interest factor attributable to such rent expense.

 


(1)  Used one-third of rent expense on operating leases.