EX-12.1 2 a11-15618_1ex12d1.htm EX-12.1

Exhibit 12.1

 

DISH DBS Corporation

Ratio of Earnings to Fixed Charges

(In thousands, except ratios)

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Six Months

 

 

 

For the Years Ended December 31,

 

Ended June 30,

 

 

 

2006

 

2007

 

2008

 

2009

 

2010

 

2010

 

2011

 

Income (loss) before taxes

 

$

934,521

 

$

1,344,570

 

$

1,789,427

 

$

976,593

 

$

1,486,988

 

$

750,004

 

$

1,452,794

 

Less: Equity earnings of affiliate

 

—

 

—

 

—

 

1,975

 

—

 

—

 

—

 

Interest expense (net of amounts capitalized)

 

389,993

 

372,612

 

368,838

 

407,413

 

470,890

 

241,856

 

261,178

 

Amortization of capitalized interest (estimate)

 

11,771

 

12,188

 

5,338

 

5,484

 

7,360

 

2,808

 

4,328

 

Interest component of rent expense (1)

 

2,430

 

2,580

 

7,267

 

7,004

 

9,904

 

2,721

 

2,481

 

Earnings before fixed charges

 

$

1,338,715

 

$

1,731,950

 

$

2,170,870

 

$

1,398,469

 

$

1,975,142

 

$

997,389

 

$

1,720,781

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense (net of amounts capitalized)

 

$

389,993

 

$

372,612

 

$

368,838

 

$

407,413

 

$

470,890

 

$

241,856

 

$

261,178

 

Capitalized interest

 

12,079

 

7,434

 

5,607

 

—

 

—

 

—

 

—

 

Interest component of rent expense (1)

 

2,430

 

2,580

 

7,267

 

7,004

 

9,904

 

2,721

 

2,481

 

Total fixed charges

 

$

404,502

 

$

382,626

 

$

381,712

 

$

414,417

 

$

480,794

 

$

244,577

 

$

263,659

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

3.31 x

 

4.53 x

 

5.69 x

 

3.37 x

 

4.11 x

 

4.08 x

 

6.53 x

 

 

(1)  The interest component of rent expense has been estimated by taking the difference between our gross rent expense and the net present value of our rent expense using the weighted average cost of debt for our senior notes during each respective period.  The rates applied are approximately 7% for the years ended December 31, 2006 through December 31, 2010 and for the six months ended June 30, 2010 and 2011.

 

1