EX-12.1 7 a06-13284_1ex12d1.htm EX-12

Exhibit 12.1

 

Station Casinos, Inc.

Ratio of Earnings to Fixed Charges

(amounts in thousands)

 

 

 

Fiscal Year Ended

 

Quarter ended

 

 

 

31-Dec-01

 

31-Dec-02

 

31-Dec-03

 

31-Dec-04

 

31-Dec-05

 

31-Mar-06

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Expense

 

$

92,902

 

$

98,985

 

$

95,039

 

$

78,266

 

$

83,551

 

$

24,299

 

Capitalized Interest

 

10,918

 

2,065

 

3,496

 

6,968

 

22,287

 

12,544

 

Amortization of Debt Cost

 

6,376

 

4,082

 

3,156

 

2,945

 

3,262

 

1,088

 

Interest Portion of Rentals

 

3,153

 

3,435

 

3,655

 

3,722

 

3,362

 

792

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Fixed Charges

 

$

113,349

 

$

108,567

 

$

105,346

 

$

91,901

 

$

112,462

 

$

38,723

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Portion of Rentals

 

 

 

 

 

 

 

 

 

 

 

 

 

Rentals

 

$

9,556

 

$

10,408

 

$

11,076

 

$

11,278

 

$

10,187

 

$

2,401

 

Times 33%

 

3,153

 

3,435

 

3,655

 

3,722

 

3,362

 

792

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

Pretax Income from Continuing Operations

 

30,463

 

49,756

 

68,177

 

105,229

 

256,228

 

65,641

 

Fixed Charges

 

113,349

 

108,567

 

105,346

 

91,901

 

112,462

 

38,723

 

Less Capitalized Interest

 

(10,918

)

(2,065

)

(3,496

)

(6,968

)

(22,287

)

(12,544

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Earnings

 

$

132,894

 

$

156,258

 

$

170,027

 

$

190,162

 

$

346,403

 

$

91,820

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

1.17

 

1.44

 

1.61

 

2.07

 

3.08

 

2.37