EX-12.1 6 y99713exv12w1.txt STATEMENT RE:COMPUTATION OF RATIO EXHIBIT 12.1 AMERICAN REAL ESTATE PARTNERS, L.P. AND SUBSIDIARIES RATIO OF EARNINGS TO FIXED CHARGES (AMOUNTS IN THOUSANDS)
Three Months Ended March 31, Years Ended December 31, ---------------- ------------------------------------------- 2004 2003 2002 2001 2000 1999 ---- ---- ---- ---- ---- ---- Income from continuing operations before income taxes, income or loss from equity investees and minority interest 54,041 55,576 76,977 67,283 76,778 105,984 Fixed Charges: Interest Expense 5,919 20,640 27,369 34,765 17,820 19,010 Amortized capitalized expenses related to indebtedness 193 320 191 178 222 215 Estimated interest within rental expense 32 122 124 103 100 93 ------ ------ ------- ------- ------ ------- Earnings as defined 60,185 76,658 104,661 102,329 94,920 125,302 ====== ====== ======= ======= ====== ======= Fixed Charges (including capitalized items) Interest Expense 5,919 20,640 27,369 34,765 17,820 19,010 Amortized capitalized expenses related to indebtedness 193 320 191 178 222 215 Estimated interest within rental expense 32 122 124 103 100 93 ------ ------ ------- ------- ------ ------- Fixed charges as defined 6,144 21,082 27,684 35,046 18,142 19,318 ====== ====== ======= ======= ====== ======= Ratio of earnings to fixed charges 9.8 3.6 3.8 2.9 5.2 6.5 ====== ====== ======= ======= ====== =======