EX-12.1 3 a2148592zex-12_1.txt EXHIBIT 12.1 EXHIBIT 12.1 GTECH HOLDINGS CORPORATION AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited) Nine Months Ended ------------------------------------- November 27, November 22, 2004 2003 ------------------------------------- (Dollars in thousands, except ratios) Earnings: Income before income taxes $ 237,803 $ 214,871 Add: Interest on indebtedness 11,743 6,997 Equity income (loss), net of distributions 1,071 (263) Minority losses 2,178 3,540 Portion of rents representative of the interest factor 986 4,833 Amortization of capitalized interest 502 540 ------------ ------------ Adjusted earnings $ 254,283 $ 230,518 ============ ============ Fixed charges: Interest on indebtedness 11,743 6,997 Portion of rents representative of the interest factor 986 4,833 Capitalized interest 650 1,376 ------------ ------------ Total fixed charges $ 13,379 $ 13,206 ============ ============ Ratio of earnings to fixed charges 19.01 17.46 ============ ============ Fiscal Year Ended ---------------------------------------------------------------------- February 28, February 22, February 23, February 24, February 26, 2004 2003 2002 2001 2000 ---------------------------------------------------------------------- (Dollars in thousands, except ratios) Earnings: Income before income taxes $ 290,794 $ 229,066 $ 109,720 $ 70,735 $ 155,977 Add: Interest on indebtedness 10,919 11,267 22,876 27,165 29,032 Equity income (loss), net of distributions 1,672 316 (815) 1,343 (376) Minority losses 4,502 578 160 2,039 4,528 Portion of rents representative of the interest factor 1,315 6,444 6,444 7,160 7,160 Amortization of capitalized interest 610 1,176 1,821 1,927 2,210 ------------ ------------ ------------ ------------ ------------ Adjusted earnings $ 309,812 $ 248,847 $ 140,206 $ 110,369 $ 198,531 ============ ============ ============ ============ ============ Fixed charges: Interest on indebtedness 10,919 11,267 22,876 27,165 29,032 Portion of rents representative of the interest factor 1,315 6,444 6,444 7,160 7,160 Capitalized interest 1,658 174 1,250 1,077 - ------------ ------------ ------------ ------------ ------------ Total fixed charges $ 13,892 $ 17,885 $ 30,570 $ 35,402 $ 36,192 ============ ============ ============ ============ ============ Ratio of earnings to fixed charges 22.30 13.91 4.59 3.12 5.49 ============ ============ ============ ============ ============