EX-12.1 8 a2123352zex-12_1.txt EXHIBIT 12.1 EXHIBIT 12.1 GTECH HOLDINGS CORPORATION AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited) Six Months Ended ------------------------------------- August 23, August 24, 2003 2002 ------------------------------------- (Dollars in thousands, except ratios) Earnings: Income before income taxes $ 142,067 $ 108,466 Add: Interest on indebtedness 4,011 5,643 Equity income (loss), net of distributions (289) 653 Minority losses 1,578 1,141 Portion of rents representative of the interest factor 3,222 3,222 Amortization of capitalized interest 384 624 ------------ ------------ Adjusted earnings $ 150,973 $ 119,749 ============ ============ Fixed charges: Interest on indebtedness 4,011 5,643 Portion of rents representative of the interest factor 3,222 3,222 Capitalized interest 1,080 - ------------ ------------ Total fixed charges $ 8,313 $ 8,865 ============ ============ Ratio of earnings to fixed charges 18.16 13.51 ============ ============ Fiscal Year Ended ----------------------------------------------------------------------- February 22, February 23, February 24, February 26, February 27, 2003 2002 2001 2000 1999 ----------------------------------------------------------------------- (Dollars in thousands, except ratios) Earnings: Income before income taxes $ 229,066 $ 109,720 $ 70,735 $ 155,977 $ 150,954 Add: Interest on indebtedness 11,267 22,876 27,165 29,032 27,405 Equity income (loss), net of distributions 316 (815) 1,343 (376) (3,117) Minority losses 578 160 2,039 4,528 484 Portion of rents representative of the interest factor 6,444 6,444 7,160 7,160 7,160 Amortization of capitalized interest 1,176 1,821 1,927 2,210 1,985 ------------ ------------ ------------ ------------ ------------ Adjusted earnings $ 248,847 $ 140,206 $ 110,369 $ 198,531 $ 184,871 ============ ============ ============ ============ ============ Fixed charges: Interest on indebtedness 11,267 22,876 27,165 29,032 27,405 Portion of rents representative of the interest factor 6,444 6,444 7,160 7,160 7,160 Capitalized interest 174 1,250 1,077 - 1,983 ------------ ------------ ------------ ------------ ------------ Total fixed charges $ 17,885 $ 30,570 $ 35,402 $ 36,192 $ 36,548 ============ ============ ============ ============ ============ Ratio of earnings to fixed charges 13.91 4.59 3.12 5.49 5.06 ============ ============ ============ ============ ============