EX-12.1 3 a12-20376_1ex12d1.htm EX-12.1

Exhibit 12.1

 

Isle of Capri Casinos, Inc.

Exhibit 12.1 - Ratio of Earnings to Fixed Charges

 

 

 

Quarter
Ended

 

Fiscal Year Ended

 

 

 

7/29/2012

 

4/29/2012

 

4/24/2011

 

4/25/2010

 

4/26/2009

 

4/27/2008

 

 

 

 

 

(dollars in millions)

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing ops before income taxes and noncontrolling interest

 

$

6.1

 

$

(2.3

)

$

10.7

 

$

(1.6

)

$

29.0

 

$

(51.0

)

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges identified below

 

23.4

 

97.7

 

100.2

 

83.1

 

100.8

 

117.3

 

Deduct:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest capitalized during the period

 

0.8

 

1.1

 

0.1

 

0.1

 

0.2

 

1.6

 

Adjusted Earnings

 

$

28.7

 

$

94.3

 

$

110.8

 

$

81.4

 

$

129.6

 

$

64.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

20.4

 

$

87.9

 

$

91.9

 

$

75.4

 

$

92.9

 

$

107.6

 

Interest capitalized

 

0.8

 

1.1

 

0.1

 

0.1

 

0.2

 

1.6

 

Interest portion of rent expense

 

2.1

 

8.7

 

8.1

 

7.6

 

7.7

 

8.1

 

Adjusted fixed charges

 

$

23.3

 

$

97.7

 

$

100.1

 

$

83.1

 

$

100.8

 

$

117.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

1.2

 

(1)

 

1.1

 

(2)

 

1.3

 

(3)

 

 

(1)           For the year ended April 29, 2012, earnings were insufficient to cover fixed charges by approximately $3.4 million.

 

(2)           For the year ended April 25, 2010, earnings were insufficient to cover fixed charges by approximately $1.7 million.

 

(3)           For the year ended April 27, 2008, earnings were insufficient to cover fixed charges by approximately $52.6 million.