EX-12 3 exhibit12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12 - Computation of Ratio of Earnings to Fixed Charges GTECH Holdings Corporation and subsidiaries Dollars in thousands
Fiscal Year Ended --------------------------------------------------------------------- February 23, February 24, February 26, February 27, February 28, 2002 2001 2000 1999 1998 ----------- ----------- ----------- ----------- ----------- Income before income taxes 122,236 70,735 155,977 150,954 44,613 Add: Interest on indebtedness 22,876 27,165 29,032 27,405 30,311 Equity income (loss) net of distributions 185 1,343 (376) (3,117) (8,632) Minority losses 160 2,039 4,528 484 - Portion of rents representative of the 6,444 7,160 7,160 7,160 7,160 interest factor Amortization of 1,699 1,927 2,210 1,985 1,586 capitalized interest ----------- ----------- ----------- ---------- ----------- Earnings 153,600 110,369 198,531 184,871 75,038 =========== =========== =========== ========== =========== Interest on indebtedness 22,876 27,165 29,032 27,405 30,311 Portion of rents representative of the interest factor 6,444 7,160 7,160 7,160 7,160 Capitalized interest 1,250 1,077 - 1,983 4,348 ----------- ----------- ----------- ---------- ----------- Fixed charges 30,570 35,402 36,192 36,548 41,819 =========== =========== =========== ========== =========== Ratio of earnings to fixed charges 5.02 3.12 5.49 5.06 1.79 =========== =========== =========== ========== ===========