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
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From |
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Inception |
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3 Months |
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12 Months |
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12 Months |
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12 Months |
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12 Months |
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August 31, 2012 |
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March 30, 2012 |
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Ended |
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Ended |
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Ended |
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Ended |
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Ended |
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through |
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through |
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March 31, 2017 |
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December 31, 2016 |
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December 31, 2015 |
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December 31, 2014 |
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December 31, 2013 |
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December 31, 2012 |
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August 30, 2012 |
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(Successor) |
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(Successor) |
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(Successor) |
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(Successor) |
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(Successor) |
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(Successor) |
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(Predecessor) |
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EARNINGS |
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Earnings (loss) from continuing operations before income taxes or equity in (earnings) losses of non-consolidated entities |
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$ |
1,481 |
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$ |
101,921 |
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$ |
126,400 |
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$ |
70,622 |
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$ |
52,286 |
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$ |
(36,002 |
) |
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$ |
54,202 |
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Add:Fixed charges (below) |
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122,886 |
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290,259 |
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262,232 |
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273,000 |
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291,347 |
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94,923 |
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135,487 |
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Amortization of capitalized interest |
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182 |
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740 |
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813 |
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986 |
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549 |
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Distributed income of equity investees |
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24,397 |
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40,052 |
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34,083 |
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35,243 |
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31,501 |
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10,226 |
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7,051 |
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Less:Interest capitalized (below) |
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(100 |
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(234 |
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(203 |
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(315 |
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(511 |
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(14 |
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Earnings for ratio |
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148,846 |
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432,738 |
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423,325 |
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379,536 |
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374,623 |
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69,147 |
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197,275 |
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FIXED CHARGES: |
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Interest on borrowings |
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51,122 |
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110,731 |
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96,857 |
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111,072 |
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129,963 |
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45,259 |
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67,614 |
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Interest on capital and financing lease obligations |
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10,793 |
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10,806 |
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9,231 |
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9,867 |
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10,264 |
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1,873 |
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2,390 |
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Interest capitalized |
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100 |
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234 |
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203 |
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315 |
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511 |
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14 |
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Estimated interest portion of rental expense (1) |
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60,871 |
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168,488 |
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155,941 |
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151,746 |
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150,609 |
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47,791 |
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63,029 |
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Estimated interest portion of rental expense (1)-discontinued operations |
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2,441 |
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Fixed Charges |
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122,886 |
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290,259 |
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262,232 |
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273,000 |
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291,347 |
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94,923 |
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135,487 |
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FIXED CHARGES IN EXCESS OF EARNINGS |
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$ |
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$ |
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$ |
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$ |
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$ |
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$ |
25,776 |
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$ |
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RATIO OF EARNINGS TO FIXED CHARGES |
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1.2 |
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1.5 |
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1.6 |
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1.4 |
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1.3 |
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1.5 |
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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.