EX-12.1 6 a75302ex12-1.txt EXHIBIT 12.1 1 BOYD GAMING CORPORATION EXHIBIT 12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ($ IN THOUSANDS, EXCEPT FOR RATIOS) (UNAUDITED)
Six Months Ended Years Ended June 30, December 31, ---------------------- ----------------------------------- 2001 2000 2000 1999 1998 --------- --------- --------- --------- --------- Earnings Calculation: Income (loss) before provision (benefit) for income taxes, cumulative effect of a change in accounting principle and extraordinary items $ 24,313 $ 103,614 $ 102,057 $ 67,634 $ 49,891 Add: Interest expense 39,407 39,368 79,303 69,230 74,162 Interest component of rent expense 1,050 803 1,767 1,470 1,065 --------- --------- --------- --------- --------- Earnings available for fixed charges $ 64,770 $ 143,785 $ 183,127 $ 138,334 $ 125,118 ========= ========= ========= ========= ========= Fixed charges: Interest expense $ 39,407 $ 39,368 $ 79,303 $ 69,230 $ 74,162 Capitalized interest 6,571 2,249 6,253 1,786 -- Interest component of rent expense 1,050 803 1,767 1,470 1,065 --------- --------- --------- --------- --------- Total fixed charges $ 47,028 $ 42,420 $ 87,323 $ 72,486 $ 75,227 ========= ========= ========= ========= ========= Ratio of earnings to fixed charges 1.4x 3.4x 2.1x 1.9x 1.7x ========= ========= ========= ========= =========
Six Months Fiscal Year Ended Ended June 30, December 31, ------------------------ 1997 1997 1996 ------------ ---------- --------- Earnings Calculation: Income (loss) before provision (benefit) for income taxes, cumulative effect of a change in accounting principle and extraordinary items $ 20,836 $ (105,448) $ 49,600 Add: Interest expense 37,571 61,672 52,360 Interest component of rent expense 595 1,072 960 --------- ---------- --------- Earnings available for fixed charges $ 59,002 $ (42,704) $ 102,920 ========= ========== ========= Fixed charges: Interest expense $ 37,571 $ 61,672 $ 52,360 Capitalized interest -- 3,200 4,600 Interest component of rent expense 595 1,072 960 --------- ---------- --------- Total fixed charges $ 38,166 $ 65,944 $ 57,920 ========= ========== ========= Ratio of earnings to fixed charges 1.6x (0.6)x 1.8x ========= ========== ========= Deficit $ (108,648)