EX-12.1 20 g94405exv12w1.txt EX-12.1 STATEMENT REGARDING COMPUTATION OF RATIOS . . . Exhibit 12.1 GAYLORD ENTERTAINMENT COMPANY OTHER FINANCIAL DATA RATIO OF EARNINGS TO FIXED CHARGES
2000 2001 2002 2003 2004 ------------------------------------------------------------------ Fixed Charges: INTEREST EXPENSED AND CAPITALIZED: Interest expense net of capitalization 30,307 39,365 46,960 52,804 55,064 Capitalized interest 6,775 18,781 6,825 14,811 5,464 Total interest expensed and capitalized (includes amortization of deferred financing costs) 37,082 58,146 53,785 67,615 60,528 Rent Expense 2,600 2,700 13,100 13,595 22,260 % Rent assumed Interest 90.57% 90.57% 90.57% 90.57% 90.57% ----------------------------------------------------------------- Interest component of rent 2,355 2,445 11,865 12,313 20,162 ----------------------------------------------------------------- TOTAL FIXED CHARGES 39,437 60,591 65,650 79,928 80,690 ----------------------------------------------------------------- EARNINGS: Add: Pre-tax income (162,053) (19,692) 16,335 (55,874) (94,013) Fixed Charges 39,437 60,591 65,650 79,928 80,690 Amortization of Capitalized Interest 269 269 1,264 1,264 1,622 Less: Interest capitalized (6,775) (18,781) (6,825) (14,811) (5,464) ----------------------------------------------------------------- TOTAL EARNINGS (129,122) 22,387 76,424 10,507 (17,165) ----------------------------------------------------------------- Earnings to Fixed Charges (3.27) 0.37 1.16 0.13 (0.21) RATIO DISCLOSED -- -- 1.16 -- --
For the years 2000, 2001, 2003, and 2004, earnings were insufficent to cover fixed charges. The amount of earnings needed to cover fixed charges were $168.6 million, $38.2 million, $69.4 million, and $97.9 million, respectively.