EX-12 3 a12-18905_1ex12.htm EX-12

Exhibit 12

 

Hawaiian Holdings, Inc.

Computation of Ratio of Earnings to Fixed Charges

(in thousands)

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

 

 

2012

 

2011

 

2012

 

2011

 

 

 

(in thousands, except for ratio)

 

Earnings

 

 

 

 

 

 

 

 

 

Income (loss) before income taxes

 

$

73,803

 

$

47,326

 

$

91,971

 

$

(33,761

)

 

 

 

 

 

 

 

 

 

 

Additions:

 

 

 

 

 

 

 

 

 

Total fixed charges (see below)

 

23,709

 

20,741

 

65,512

 

58,828

 

 

 

 

 

 

 

 

 

 

 

Subtractions:

 

 

 

 

 

 

 

 

 

Interest capitalized

 

2,579

 

2,647

 

7,328

 

5,807

 

Earnings as adjusted

 

$

94,933

 

$

65,420

 

$

150,155

 

$

19,260

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

Interest on indebtedness, expensed or capitalized

 

$

10,650

 

$

6,683

 

$

28,021

 

$

13,411

 

Amortization of debt expense

 

1,325

 

1,054

 

3,724

 

2,409

 

Portion of rental expense representative of the interest factor

 

11,734

 

13,004

 

33,767

 

43,008

 

Total fixed charges

 

$

23,709

 

$

20,741

 

$

65,512

 

$

58,828

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

4.00

 

3.15

 

2.29

 

—

 

 

 

 

 

 

 

 

 

 

 

Coverage deficiency

 

$

—

 

$

—

 

$

—

 

$

39,568