EX-12.2 5 p66611ex12-2.txt EX-12.2 EXHIBIT 12.2 AMERICA WEST AIRLINES, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS EXCEPT RATIO OF EARNINGS TO FIXED CHARGES)
THREE MONTHS ENDED MARCH 31, YEAR ENDED DECEMBER 31, --------------------- ------------------------------------------------------ 2002 2001 2001 2000 1999 1998 1997 --------- -------- --------- -------- -------- -------- -------- Computation of earnings: Income (loss) before income taxes and extraordinary item ............... $(138,410) $(27,018) $(222,937) $ 15,141 $200,974 $184,557 $140,673 Add: Interest expense including amortization of debt expense ..... 18,897 7,366 34,896 23,874 30,486 34,924 39,620 Interest portion of rent expense ..... 34,860 37,746 152,392 142,252 121,722 110,125 102,805 --------- -------- --------- -------- -------- -------- -------- Income (loss), as adjusted .............. $ (84,653) $ 18,094 $ (35,649) $181,267 $353,182 $329,606 $283,098 ========= ======== ========= ======== ======== ======== ======== Computation of fixed charges: Interest expense including amortization of debt expense ........ $ 18,897 $ 7,366 $ 34,896 $ 23,874 $ 30,486 $ 34,924 $ 39,620 Interest portion of rent expense ........ 34,860 37,746 152,392 142,252 121,722 110,125 102,805 Capitalized interest .................... 1,351 2,304 12,509 9,026 6,100 4,852 553 --------- -------- --------- -------- -------- -------- -------- Fixed charges ........................... $ 55,108 $ 47,416 $ 199,797 $175,152 $158,308 $149,901 $142,978 ========= ======== ========= ======== ======== ======== ======== Ratio of earnings to fixed charges(1) (2) -- -- -- 1.03 2.23 2.20 1.98
(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 three months ended March 31, 2002 and 2001 were inadequate to cover fixed charges by $139.8 million and $29.3 million, respectively. Earnings for the year ended December 31, 2001 were inadequate to cover fixed charges by $235.4 million.