EX-12.1 3 g86622a1exv12w1.txt EX-12.1 STATEMENT REGARDING COMPUTATION OF RATIOS . . . Exhibit 12.1 GAYLORD ENTERTAINMENT COMPANY OTHER FINANCIAL DATA RATIO OF EARNINGS TO FIXED CHARGES
1999 2000 2001 2002 2003 ------------------------------------------------------------------ Fixed Charges: INTEREST EXPENSED AND CAPITALIZED: Interest expense net of capitalization 16,101 30,307 39,365 46,960 52,804 Capitalized interest 472 6,775 18,781 6,825 14,811 Total interest expensed and capitalized (includes amortization of deferred financing costs) 16,573 37,082 58,146 53,785 67,615 Rent Expense 5,460 2,600 2,700 13,100 13,595 % Rent assumed Interest 90.57% 90.57% 90.57% 90.57% 90.57% ------------------------------------------------------------------ Interest component of rent 4,945 2,355 2,445 11,865 12,313 ------------------------------------------------------------------ TOTAL FIXED CHARGES 21,518 39,437 60,591 65,650 79,928 ------------------------------------------------------------------ EARNINGS: Add: Pre-tax income 581,765 (160,787) (19,307) 13,277 (58,214) Fixed Charges 21,518 39,437 60,591 65,650 79,928 Amortization of Capitalized Interest 269 269 269 1,264 1,264 Less: Interest capitalized (472) (6,775) (18,781) (6,825) (14,811) ------------------------------------------------------------------ TOTAL EARNINGS 603,080 (127,856) 22,772 73,366 8,167 ------------------------------------------------------------------ Earnings to Fixed Charges 28.03 (3.24) 0.38 1.12 0.10 RATIO DISCLOSED 28.03 -- -- 1.12 --
For the years 2000, 2001, 2003, earnings were insufficent to cover fixed charges. The amount of earnings needed to cover fixed charges were $167.3 million, $37.8 million, and $71.8 million respectively.