EX-12 9 d04906exv12.txt CALCULATION OF EARNINGS TO FIXED CHARGES . . . EXHIBIT 12 CINEMARK USA, INC. AND SUBSIDIARIES 10K COMPUTATION OF EARNINGS TO FIXED CHARGES
12 Mos Ended 12 Mos Ended 12 Mos Ended 12 Mos Ended 12 Mos Ended Dec. 31, 2002 Dec. 31, 2001 Dec. 31, 2000 Dec. 31, 1999 Dec. 31, 1998 ------------- ------------- ------------- ------------- ------------- COMPUTATION OF EARNINGS: REGISTRANT'S PRETAX INCOME FROM CONTINUING OPERATIONS 64,737,055 (18,135,897) (10,171,364) 7,711,789 22,476,984 CAPITALIZED INTEREST 432,992 217,288 (180,622) (3,987,319) (4,182,404) ------------ ------------ ------------ ------------ ------------ TOTAL EARNINGS 65,170,047 (17,918,609) (10,351,986) 3,724,470 18,294,580 COMPUTATION OF FIXED CHARGES: INTEREST EXPENSE 55,428,317 68,542,792 73,151,772 59,011,239 42,257,979 CAPITALIZED INTEREST 0 215,704 613,614 4,312,499 4,397,643 AMORTIZATION OF DEBT ISSUE COST 2,364,680 2,387,828 885,449 855,839 755,601 INTEREST FACTOR ON RENT EXPENSE 34,955,902 38,245,508 36,162,868 29,936,114 20,427,123 ------------ ------------ ------------ ------------ ------------ TOTAL FIXED CHARGES 92,748,899 109,391,832 110,813,703 94,115,691 67,838,346 TOTAL EARNINGS AND FIXED CHARGES 157,918,946 91,473,223 100,461,717 97,840,161 86,132,926 ------------ ------------ ------------ ------------ ------------ RATIO OF EARNINGS TO FIXED CHARGES 1.70 -- -- 1.04 1.27 ============ ============ ============ ============ ============
For the years ended December 31, 2001 and 2000, earnings were insufficient to cover fixed charges by $17.9 million and $10.4 million, respectively.