EX-12.1 29 dex121.htm STATEMENTS OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statements of computation of Ratio of Earnings to fixed charges

Exhibit 12.1

CEDAR FAIR, L.P.

STATEMENTS OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in thousands, except ratios)

 

     Fiscal Years Ended December 31,  
     Pro Forma
2010
    2010     2009     2008     2007     2006  

Fixed charges:

            

Interest expensed

   $ 181,921      $ 150,285      $ 124,706      $ 129,561      $ 145,568      $ 88,294   

Interest capitalized

     1,343        1,343        1,617        1,623        1,467        1,158   

Amortization of capitalized debt costs

     10,083        5,622        5,887        5,175        5,257        2,761   

Interest component of rental expense (1)

     2,327        2,327        2,378        2,510        2,561        1,892   
                                                

Total fixed charges

   $ 195,674      $ 159,577      $ 134,588      $ 138,869      $ 154,853      $ 94,105   
                                                

Earnings:

            

Net income (loss)

   $ (55,528   $ (31,567   $ 35,429      $ 5,706      $ (4,491   $ 87,477   

Add:

            

Income tax expense

     (8,891     3,245        14,978        (935     14,229        39,087   

Fixed charges

     195,674        159,577        134,588        138,869        154,853        94,105   

Amortization of capitalized interest

     470        470        470        432        359        290   

Less:

            

Interest capitalized

     (1,343     (1,343     (1,617     (1,623     (1,467     (1,158
                                                

Total earnings

   $ 130,382      $ 130,382      $ 183,848      $ 142,449      $ 163,483      $ 219,801   
                                                

Ratio of total earnings to total fixed charges (2)

     —          —          1.4        1.0        1.1        2.3   
                                                

 

(1) Approximately 1/3 of rent expense is deemed representative of the interest factor.
(2) Our earnings were insufficient to cover our fixed charges for 2010 and pro-forma 2010 by approximately $29.2 million and $65.3 million, respectively, due to a non-cash fourth quarter charge for the impairment of long-lived assets.