EX-12.1 5 a2225022zex-12_1.htm EX-12.1

EXHIBIT 12.1

 

AMC ENTERTAINMENT INC. AND SUBSIDIARES

RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in thousands)

 

EXHIBIT 12.1

RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

 

 

 

 

 

 

From

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Inception

 

 

 

 

 

 

 

 

 

 

3 Months

 

12 Months

 

12 Months

 

August 31, 2012

 

 

March 30, 2012

 

52 Weeks

 

52 Weeks

 

 

 

Ended

 

Ended

 

Ended

 

through

 

 

through

 

Ended

 

Ended

 

 

 

March 31, 2015

 

December 31, 2014

 

December 31, 2013

 

December 31, 2012

 

 

August 30, 2012

 

March 29, 2012

 

March 31, 2011

 

 

 

(Successor)

 

(Successor)

 

(Successor)

 

(Successor)

 

 

(Predecessor)

 

(Predecessor)

 

(Predecessor)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EARNINGS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) from continuing operations before income taxes or equity in (earnings) losses of non-consolidated entities

 

$

8,744

 

$

70,622

 

$

52,286

 

$

(36,002

)

 

$

54,202

 

$

(88,923

)

$

(135,019

)

Add:Fixed charges (below)

 

67,796

 

273,000

 

291,347

 

94,923

 

 

135,487

 

323,945

 

308,387

 

Amortization of capitalized interest

 

203

 

986

 

 

 

 

549

 

1,319

 

1,477

 

Distributed income of equity investees

 

14,486

 

35,243

 

31,501

 

10,226

 

 

7,051

 

33,112

 

35,893

 

Less:Interest capitalized (below)

 

(37

)

(315

)

(511

)

 

 

(14

)

(58

)

(64

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings for ratio

 

91,192

 

379,536

 

374,623

 

69,147

 

 

197,275

 

269,395

 

210,674

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on borrowings

 

26,079

 

111,072

 

129,963

 

45,259

 

 

67,614

 

161,645

 

143,522

 

Interest on capital and financing lease obligations

 

2,373

 

9,867

 

10,264

 

1,873

 

 

2,390

 

5,968

 

6,198

 

Interest capitalized

 

37

 

315

 

511

 

 

 

14

 

58

 

64

 

Estimated interest portion of rental expense (1)

 

39,307

 

151,746

 

150,609

 

47,791

 

 

63,029

 

148,442

 

150,625

 

Estimated interest portion of rental expense (1)-discontinued operations

 

 

 

 

 

 

2,441

 

7,832

 

7,979

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges

 

67,796

 

273,000

 

291,347

 

94,923

 

 

135,487

 

323,945

 

308,387

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES IN EXCESS OF EARNINGS

 

$

 

$

 

$

 

$

25,776

 

 

$

 

$

54,550

 

$

97,713

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

1.3

 

1.4

 

1.3

 

 

 

 

1.5

 

 

 

 

 

 

The ratio of earnings to fixed charges represents the number of times fixed charges are covered by earnings.  For purposes of computing this ratio, earnings consist of earnings (loss) from continuing operations before income taxes or equity in (earnings) losses of non-consolidated entities, plus fixed charges (excluding capitalized interest), amortization of capitalized interest, and distributed income of equity investees.  Fixed charges consist of interest expense, interest capitalized and one-third of rent expense on operating leases, estimated by the Company to be representative of the interest factor attributable to such rent expense.

 


(1)  Used one-third of rent expense on operating leases.