EX-12.1 3 a11-15618_1ex12d1.htm EX-12.1

Exhibit 12.1

 

DISH DBS Corporation

Ratio of Earnings to Fixed Charges

(In thousands, except ratios)

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months

 

 

 

For the Years Ended December 31,

 

Ended March 31,

 

 

 

2006

 

2007

 

2008

 

2009

 

2010

 

2010

 

2011

 

Income (loss) before taxes

 

$

 934,521

 

$

 1,344,570

 

$

 1,789,427

 

$

 976,593

 

$

 1,486,988

 

$

 340,542

 

$

 881,625

 

Less: Equity earnings of affiliate

 

—

 

—

 

—

 

1,975

 

—

 

—

 

—

 

Interest expense (net of amounts capitalized)

 

389,993

 

372,612

 

368,838

 

407,413

 

470,890

 

120,938

 

119,973

 

Amortization of capitalized interest (estimate)

 

11,771

 

12,188

 

5,338

 

5,484

 

7,360

 

1,404

 

2,164

 

Interest component of rent expense (1)

 

2,430

 

2,580

 

7,267

 

7,004

 

9,904

 

770

 

773

 

Earnings before fixed charges

 

$

 1,338,715

 

$

 1,731,950

 

$

 2,170,870

 

$

 1,398,469

 

$

 1,975,142

 

$

 463,654

 

$

 1,004,535

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense (net of amounts capitalized)

 

$

 389,993

 

$

 372,612

 

$

 368,838

 

$

 407,413

 

$

 470,890

 

$

 120,938

 

$

 119,973

 

Capitalized interest

 

12,079

 

7,434

 

5,607

 

—

 

—

 

—

 

—

 

Interest component of rent expense (1)

 

2,430

 

2,580

 

7,267

 

7,004

 

9,904

 

770

 

773

 

Total fixed charges

 

$

 404,502

 

$

 382,626

 

$

 381,712

 

$

 414,417

 

$

 480,794

 

$

 121,708

 

$

 120,746

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

3.31 x

 

4.53 x

 

5.69 x

 

3.37 x

 

4.11 x

 

3.81 x

 

8.32 x

 

 

(1)  The interest component of rent expense has been estimated by taking the difference between our gross rent expense and the net present value of our rent expense using the weighted average cost of debt for our senior notes during each respective period.  The rates applied are approximately 7% for the years ended December 31, 2006 through December 31, 2010 and for the three months ended March 31, 2010 and 2011.

 

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