EX-12.1 7 c93755exv12w1.txt COMPUTATION OF HISTROICAL RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 JOHN Q. HAMMONS HOTELS, INC. HISTORICAL RATIO OF EARNINGS TO FIXED CHARGES (000'S OMITTED)
FICSCAL YEAR END 2004 2003 2002 2001 2000 -------- -------- -------- -------- -------- HISTORICAL EARNINGS: Income (loss) from continuing operations before minority interest and provision for income taxes $ 4,682 $(11,743) $(11,255) $(14,493) $ (5,848) Add: Interest, amortization or deferred financing fees and other fixed charges (excluding capitalized interest, net of interest income)(a) 67,115 68,989 70,927 70,935 73,387 -------- -------- -------- -------- -------- Historical earnings 71,797 57,246 59,672 56,442 67,539 ======== ======== ======== ======== ======== FIXED CHARGES: Interest expense and amortization of deferred financing fees, net of interest income 65,498 67,522 69,323 69,374 71,780 Interest capitalized - - - - 504 Interest element of rentals 1,617 1,467 1,604 1,561 1,607 -------- -------- -------- -------- -------- 67,115 68,989 70,927 70,935 73,891 ======== ======== ======== ======== ======== RATIO OF EARNINGS TO FIXED CHARGES 1.07 N/A N/A N/A N/A ======== ======== ======== ======== ======== Fixed charges in excess of earnings N/A 11,743 11,255 14,493 6,352
(a) In computing the ratio of earnings to fixed charges, earnings have been based on income from operations before income taxes and fixed charges (exclusive of interest capitalized) and fixed charges consist of interest and amortization of deferred financing fees (including amounts capitalized) and the estimated interest portion of rents (deemed to be one-third of rental expense).