EX-12.1 8 f97065exv12w1.txt EXHIBIT 12.1 Exhibit 12.1 AMERICA WEST HOLDINGS CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS EXCEPT RATIO OF EARNINGS TO FIXED CHARGES)
YEAR ENDED DECEMBER 31, ----------------------- 2003 2002 2001 2000 1999 --------- --------- --------- --------- --------- Computation of earnings: Income (loss) before income taxes and extraordinary item ....................... $ 57,534 $(214,757) $(324,387) $ 24,743 $ 206,150 Add: Interest expense including amortization of debt expense ............. 79,665 72,445 27,456 16,193 23,387 Interest portion of rent expense ............. 135,592 136,455 152,392 142,252 121,722 --------- --------- --------- --------- --------- Income (loss), as adjusted ...................... $ 272,791 $ (5,857) $(144,539) $ 183,188 $ 351,259 ========= ========= ========= ========= ========= Computation of fixed charges: Interest expense including amortization of debt expense ................ $ 79,665 $ 72,445 $ 27,456 $ 16,193 $ 23,387 Interest portion of rent expense ................ 135,592 136,455 152,392 142,252 121,722 Capitalized interest ............................ 1,562 2,958 12,509 9,026 6,100 --------- --------- --------- --------- --------- Fixed charges ................................... $ 216,819 $ 211,858 $ 192,357 $ 167,471 $ 151,209 ========= ========= ========= ========= ========= Ratio of earnings to fixed charges(1)(2) ........ 1.26 -- -- 1.09 2.32
(1) For the purpose of computing the ratio of earnings to fixed charges, "earnings" consist of income (loss) before income taxes and extraordinary item plus fixed charges less capitalized interest. "Fixed charges" consist of interest expense including amortization of debt expense, one-third of rent expense, which is deemed to be representative of an interest factor, and capitalized interest. (2) Earnings for the year ended December 31, 2002 and 2001 were inadequate to cover fixed charges by $217.7 million and $336.9 million, respectively.