EX-12.1 2 ex12-1.txt STATEMENT REGARDING COMPUTATION OF EARNINGS 1 EXHIBIT 12.1 LODGIAN INC. STATEMENTS OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
1999 1998 1997 1996 1995 ------- ------- ------- ------- ------- (IN THOUSANDS) Fixed Charges: Interest Expense............................... $77,409 $30,378 $25,909 $29,443 $17,903 Dividend On Convertible........................ 13,224 6,475 0 0 0 Interest Capitalized During The Period......... 8,428 3,499 1,650 644 632 Portion Of Rent Expense Representative Of Interest.................. 3,143 1,419 960 817 757 ------- ------- ------- ------- ------- Total Fixed Charges.................... 102,204 41,771 28,519 30,904 19,292 Earnings: Income (Loss) Before Income Tax And Extraordinary Item.......................... (73,037) (5,242) 20,949 11,773 6,514 Add Back Minority Interest..................... 1,300 1,436 960 2,060 572 ------- ------- ------- ------- ------- Income (Loss) Before Income Tax And Extraordinary Item And Minority Interest.... (71,737) (3,806) 21,909 13,833 7,086 Fixed Charges Per Above........................ 102,204 41,771 28,519 30,904 19,292 Less Capitalized Interest...................... (8,428) (3,499) (1,650) (644) (632) Add Current Period Amortization of Interest....................... 683 470 279 205 132 ------- ------- ------- ------- ------- Total Earnings......................... $22,722 $34,936 $49,057 $44,298 $25,878 ======= ======= ======= ======= ======= Ratio Of Earnings To Fixed Charges..... 0.22 0.84 1.72 1.43 1.34 ======= ======= ======= ======= =======