EX-12.1 15 d713384dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Pinnacle Entertainment, Inc.

Ratio of Earnings to Fixed Charges

 

     Year Ended December 31,  

($ in thousands)

   2009     2010     2011     2012     2013  

Earnings:

          

Add:

          

Pre-tax income (loss) from continuing operations, before equity method investees

   $ (68,362   $ (52,368   $ 31,775      $ 22,307      $ (41,199

Fixed Charges

     87,668        111,449        110,805        119,425        178,723   

Subtract:

          

Interest Capitalized

     (13,758     (4,041     (10,303     (20,310     (3,282
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Earnings

   $ 5,548      $ 55,040      $ 132,277      $ 121,422      $ 134,242   

Fixed Charges:

          

Interest expense, net of capitalized interest and inclusive of financing costs

   $ 70,317      $ 103,093      $ 95,705      $ 94,484      $ 170,218   

Capitalized interest

     13,758        4,041        10,303        20,310        3,282   

Estimated interest portion in rent expense

     3,593        4,315        4,797        4,631        5,223   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Fixed Charges

   $ 87,668      $ 111,449      $ 110,805      $ 119,425      $ 178,723   

Ratio of earnings (loss) to fixed charges

     0.06x        0.49x        1.19x        1.02x        0.75x