Attached files

file filename
10-K - FORM 10-K - Cinemark Holdings, Inc.d79952e10vk.htm
EX-21 - EX-21 - Cinemark Holdings, Inc.d79952exv21.htm
EX-31.2 - EX-31.2 - Cinemark Holdings, Inc.d79952exv31w2.htm
EX-32.1 - EX-32.1 - Cinemark Holdings, Inc.d79952exv32w1.htm
EX-23.1 - EX-23.1 - Cinemark Holdings, Inc.d79952exv23w1.htm
EX-31.1 - EX-31.1 - Cinemark Holdings, Inc.d79952exv31w1.htm
EX-32.2 - EX-32.2 - Cinemark Holdings, Inc.d79952exv32w2.htm
EXHIBIT 12
 
CINEMARK HOLDINGS, INC.
 
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
                                         
    Year Ended
 
    December 31,  
    2006     2007     2008     2009     2010  
 
Computation of Earnings:
                                       
Pretax income (loss) from continuing operations before equity income (loss)
  $ 15,172     $ 203,344     $ (24,897 )   $ 146,508     $ 210,939  
Add:
                                       
Fixed charges
    156,991       208,723       182,185       173,739       188,432  
Amortization of capitalized interest
    472       474       489       496       496  
Distributed income (loss) of equity investees
    (1,646 )     (2,462 )     (2,373 )     (907 )     (3,438 )
Less:
                                       
Capitalized interest
    (86 )     (618 )     (270 )            
                                         
TOTAL EARNINGS
  $ 170,903     $ 409,461     $ 155,134     $ 319,836     $ 396,429  
                                         
Computation of Fixed Charges:
                                       
Interest expense
  $ 105,986     $ 140,869     $ 111,362     $ 97,730     $ 107,728  
Capitalized interest
    86       618       270              
Amortization of debt issue costs
    3,342       4,727       4,696       4,775       4,716  
Interest factor on rent expense
    47,577       62,509       65,857       71,234       75,988  
                                         
TOTAL FIXED CHARGES
  $ 156,991     $ 208,723     $ 182,185     $ 173,739     $ 188,432  
                                         
RATIO OF EARNINGS TO FIXED CHARGES(1)
    1.09 x     1.96 x           1.84 x     2.10 x
                                         
 
 
(1) For the purposes of calculating the ratio of earnings to fixed charges, earnings consist of income (loss) from continuing operations before taxes plus fixed charges excluding capitalized interest. Fixed charges consist of interest expense, capitalized interest, amortization of debt issue cost and that portion of rental expense which we believe to be representative of the interest factor. For the year ended December 31, 2008, earnings were insufficient to cover fixed charges by $27.1 million.