Attached files
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EXCEL - IDEA: XBRL DOCUMENT - MOHEGAN TRIBAL GAMING AUTHORITY | Financial_Report.xls |
EX-32.2 - EXHIBIT 32.2 - MOHEGAN TRIBAL GAMING AUTHORITY | a2014930ex322.htm |
EX-32.1 - EXHIBIT 32.1 - MOHEGAN TRIBAL GAMING AUTHORITY | a2014930ex321.htm |
EX-31.1 - EXHIBIT 31.1 - MOHEGAN TRIBAL GAMING AUTHORITY | a2014930ex311.htm |
10-K - 10-K - MOHEGAN TRIBAL GAMING AUTHORITY | a2014930-10k.htm |
EX-31.2 - EXHIBIT 31.2 - MOHEGAN TRIBAL GAMING AUTHORITY | a2014930ex312.htm |
Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
For the Fiscal Years Ended September 30, | ||||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
(in thousands, except ratios) | ||||||||||||||||||||
Net income (loss) | $ | (20,996 | ) | $ | 47,542 | $ | 61,241 | $ | 111,843 | $ | 7,454 | |||||||||
Fixed charges | 152,017 | 178,196 | 155,595 | 130,402 | 133,737 | |||||||||||||||
Amortization of capitalized interest | 2,203 | 2,204 | 2,221 | 2,229 | 2,231 | |||||||||||||||
Capitalized interest | (735 | ) | (1,976 | ) | (34 | ) | — | (66 | ) | |||||||||||
Loss attributable to non-controlling interests | 380 | 2,784 | 2,019 | 2,134 | 2,258 | |||||||||||||||
Earnings | $ | 132,869 | $ | 228,750 | $ | 221,042 | $ | 246,608 | 145,614 | |||||||||||
Interest expense, net of capitalized interest and amortization of debt issuance costs and accretion of bond discounts | $ | 139,896 | $ | 157,865 | $ | 136,070 | $ | 109,899 | $ | 109,032 | ||||||||||
Capitalized interest | 735 | 1,976 | 34 | — | 66 | |||||||||||||||
Amortization of debt issuance costs and accretion of bond discounts | 8,037 | 12,285 | 9,987 | 7,811 | 7,752 | |||||||||||||||
Interest portion of rental expense (1) | 1,144 | 1,096 | 1,256 | 1,326 | 1,461 | |||||||||||||||
Accretion of discount to the relinquishment liability | 2,205 | 4,974 | 8,248 | 11,366 | 15,426 | |||||||||||||||
Fixed charges | $ | 152,017 | $ | 178,196 | $ | 155,595 | $ | 130,402 | $ | 133,737 | ||||||||||
Ratio of earnings to fixed charges (2) | 0.87 | 1.28 | 1.42 | 1.89 | 1.09 |
(1) | A 10% factor was utilized to calculate the interest portion of rental expense, which the Authority believes to be a reasonable approximation. |
(2) | Pursuant to Item 503 of Regulation S-K. |