EX-12.1 3 a2015q3s-4exhibit121.htm 2015 Q3 S-4 EXHIBIT 12.1 2015 Q3 S-4 Exhibit 12.1
Exhibit 12.1

FelCor Lodging Limited Partnership
 
Computation of Ratio of Earnings To Fixed Charges
 
(in thousands, except ratios)
Three Months Ended March 31,
 
Fiscal Year Ended December 31,
 
2015
2014
 
2014
2013
2012
2011
2010
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
(4,895
)
(20,428
)
 
27,750

(83,793
)
(187,311
)
(133,619
)
(99,620
)
Equity in income of unconsolidated entities
(149
)
(643
)
 
(5,010
)
(4,586
)
(2,779
)
2,068

(16,916
)
Pre-tax income (loss) from continuing operations before adjustment for income or loss from equity investees
(5,044
)
(21,071
)
 
22,740

(88,379
)
(190,090
)
(131,551
)
(116,536
)
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
Interest expense
19,486

25,242

 
90,743

103,865

121,689

126,278

127,145

Capitalized interest
3,478

4,005

 
16,266

12,809

12,930

2,206

638

The sum of interest expensed and capitalized, amortized premiums, discounts and capitalized expenses related to indebetedness
22,964

29,247

 
107,009

116,674

134,619

128,484

127,783

 
 
 
 
 
 
 
 
 
Amortization of capitalized interest
1,783

1,513

 
6,072

4,960

3,996

3,007

1,736

 
 
 
 
 
 
 
 
 
Distributed income of equity investees
580

824

 
4,128

4,440

4,160

2,261

2,190

 
 
 
 
 
 
 
 
 
Interest capitalized
(3,478
)
(4,005
)
 
(16,266
)
(12,809
)
(12,930
)
(2,206
)
(638
)
 
 
 
 
 
 
 
 
 
Earnings
16,805

6,508

 
123,683

24,886

(60,245
)
(5
)
14,535

 
 
 
 
 
 
 
 
 
Fixed charges
22,964

29,247

 
107,009

116,674

134,619

128,484

127,783

 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
0.73

0.22

 
1.16

0.21

(0.45
)
—

0.11

 
 
 
 
 
 
 
 
 
Deficiency
6,159

22,739

 
—

91,788

194,864

128,489

113,248