EX-12.1 4 d95882ex12-1.txt STATEMENT REGARDING COMPUTATION OF RATIOS EXHIBIT 12.1 FELCOR LODGING LIMITED PARTNERSHIP RATIO OF EARNINGS TO FIXED CHARGES (DOLLARS IN THOUSANDS)
PRO FORMA 1997 1998 1999 2000 2001 2001 --------- --------- --------- --------- --------- --------- RATIO OF EARNINGS TO FIXED CHARGES EARNINGS Income (loss) before extraordinary items $ 69,652 $ 124,414 $ 136,889 $ 70,256 $ (48,874) $ (48,230) Add: Minority interest 573 1,121 2,713 3,570 3,585 3,585 Fixed charges 29,811 77,724 130,685 159,700 162,037 164,855 Amortization of capitalized interest 227 667 1,109 1,200 1,269 1,269 Cash distributions from unconsolidated entities 4,211 19,066 19,581 25,358 8,132 8,132 Deduct: Equity in income from unconsolidated entities (6,963) (7,017) (8,484) (14,820) (7,346) (7,346) Deduct capitalized interest (1,019) (4,542) (5,249) (1,080) (811) (811) --------- --------- --------- --------- --------- --------- Earnings $ 96,492 $ 211,433 $ 277,244 $ 244,184 $ 117,992 $ 121,454 ========= ========= ========= ========= ========= ========= FIXED CHARGES Interest expensed -includes amortization of discount, premium and capitalized expenses related to debt $ 28,792 $ 73,182 $ 125,436 $ 158,620 $ 161,226 $ 164,044 Capitalized interest 1,019 4,542 5,249 1,080 811 811 --------- --------- --------- --------- --------- --------- Total fixed charges 29,811 77,724 130,685 159,700 162,037 164,855 Add preferred distributions Total fixed charges $ 29,811 $ 77,724 $ 130,685 $ 159,700 $ 162,037 $ 164,855 ========= ========= ========= ========= ========= ========= Ratio of Earnings to Fixed Charges 3.2% 2.7% 2.1% 1.5% 0.7% 0.7% Amount needed to reach 1.0x $ 44,045 $ 43,401