Attached files
file | filename |
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10-K - FORM 10-K - INN OF THE MOUNTAIN GODS RESORTS & CASINO | p18421e10vk.htm |
EX-31.1 - EX-31.1 - INN OF THE MOUNTAIN GODS RESORTS & CASINO | p18421exv31w1.htm |
EX-32.2 - EX-32.2 - INN OF THE MOUNTAIN GODS RESORTS & CASINO | p18421exv32w2.htm |
EX-32.1 - EX-32.1 - INN OF THE MOUNTAIN GODS RESORTS & CASINO | p18421exv32w1.htm |
EX-31.2 - EX-31.2 - INN OF THE MOUNTAIN GODS RESORTS & CASINO | p18421exv31w2.htm |
Exhibit 12.1
STATEMENT OF CALCULATION OF
RATIO OF EARNINGS TO FIXED CHARGES
(000s)
RATIO OF EARNINGS TO FIXED CHARGES
(000s)
For the purpose of calculating the ratio of earnings to fixed charges, earnings represent income
before income taxes plus fixed charges. Fixed charges consist of (a) interest expensed and
capitalized; (b) amortized premiums, discounts and capitalized expenses related to indebtedness;
(c) an estimate of the interest within rental expenses; and (d) preference security dividend
requirements of consolidated subsidiaries.
Twelve months | ||||||||||||||||||||||||||||||||
Fiscal year ended | ended | Five months ended | Fiscal year ended | |||||||||||||||||||||||||||||
September 30, | September 30, | September 30, | April 30, | |||||||||||||||||||||||||||||
2010 | 2009 | 2009 | 2008 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||||||||||
Earnings: |
||||||||||||||||||||||||||||||||
Net income
(loss) |
$ | (4,432 | ) | $ | (521 | ) | $ | 2,325 | $ | 3,043 | $ | (857 | ) | $ | (6,178 | ) | $ | (3,965 | ) | $ | (21,268 | ) | ||||||||||
Fixed Charges: |
||||||||||||||||||||||||||||||||
Interest expense (inc
amortization of debt costs) |
31,372 | 27,316 | 12,070 | 10,911 | 26,156 | 26,420 | 26,649 | 26,398 | ||||||||||||||||||||||||
Less: capitalized interest |
| | | | | | | | ||||||||||||||||||||||||
Estimated interest within
rental expenses |
| | | | | | | 26 | ||||||||||||||||||||||||
Total Fixed Charges |
31,372 | 27,316 | 12,070 | 10,911 | 26,156 | 26,420 | 26,649 | 26,424 | ||||||||||||||||||||||||
Amortization of capitalized
interest |
1,781 | 1,690 | 677 | 742 | 813 | 703 | 699 | 699 | ||||||||||||||||||||||||
Less: capitalized interest |
| | | | | | | | ||||||||||||||||||||||||
Total |
1,781 | 1,690 | 677 | 742 | 813 | 703 | 699 | 699 | ||||||||||||||||||||||||
Total
earnings (loss) |
28,720 | 28,484 | 15,072 | 14,696 | 26,112 | 20,949 | 23,383 | 5,855 | ||||||||||||||||||||||||
Fixed charges |
31,372 | 27,316 | 12,070 | 10,911 | 26,156 | 26,420 | 26,649 | 26,424 | ||||||||||||||||||||||||
Ratio of earnings to fixed
charges |
0.9 | x | 1.0 | x | 1.2 | x | 1.3 | x | 1.0 | x | 1.3 | x | 0.9 | x | 0.2 | x |