EX-12.1 4 a15-10373_1ex12d1.htm EX-12.1

Exhibit 12.1

 

Isle of Capri Casinos, Inc.

Ratio of Earnings to Fixed Charges

 

 

 

YTD Q3

 

FYE

 

FYE

 

FYE

 

FYE

 

FYE

 

 

 

1/25/2015

 

4/27/2014

 

4/28/2013

 

4/29/2012

 

4/24/2011

 

4/25/2010

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing ops before income taxes and noncontrolling interest

 

4.9

 

(148.2

)

(45.8

)

(10.5

)

2.6

 

(12.1

)

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges identified below

 

69.6

 

90.2

 

100.4

 

97.4

 

99.8

 

82.7

 

Deduct:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest capitalized during the period

 

—

 

0.1

 

2.5

 

1.1

 

0.1

 

0.1

 

Adjusted Earnings

 

74.5

 

(58.1

)

52.1

 

85.8

 

102.3

 

70.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

63.4

 

81.3

 

89.4

 

87.9

 

91.9

 

75.4

 

Interest capitalized

 

—

 

0.2

 

2.6

 

1.1

 

0.1

 

0.1

 

Interest portion of rent expense (est. use 35%)

 

6.2

 

8.7

 

8.4

 

8.4

 

7.8

 

7.2

 

Adjusted fixed charges

 

69.6

 

90.2

 

100.4

 

97.4

 

99.8

 

82.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

1.1

 

(1

)

(2

)

(3

)

1.0

 

(4

)

 

(1)                                 For the year ended April 27, 2014, earnings were insufficient to cover fixed charges by approximately $148.3 million.

 

(2)                                 For the year ended April 28, 2013, earnings were insufficient to cover fixed charges by approximately $48.3 million.

 

(3)                                 For the year ended April 29, 2012, earnings were insufficient to cover fixed charges by approximately $11.6 million.

 

(4)                                 For the year ended April 25, 2010, earnings were insufficient to cover fixed charges by approximately $12.2 million.