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EX-21 - EX-21 - CINEMARK USA INC /TXd839083dex21.htm
EX-32.2 - EX-32.2 - CINEMARK USA INC /TXd839083dex322.htm
EX-31.1 - EX-31.1 - CINEMARK USA INC /TXd839083dex311.htm
EX-32.1 - EX-32.1 - CINEMARK USA INC /TXd839083dex321.htm
EXCEL - IDEA: XBRL DOCUMENT - CINEMARK USA INC /TXFinancial_Report.xls
10-K - FORM 10-K - CINEMARK USA INC /TXd839083d10k.htm
EX-31.2 - EX-31.2 - CINEMARK USA INC /TXd839083dex312.htm

EXHIBIT 12

CINEMARK USA, INC.

CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

    

Year Ended

December 31,

 
     2010     2011     2012     2013     2014  

Computation of Earnings:

          

Pretax income from continuing operations before equity income

   $ 212,969      $ 202,174      $ 285,891      $ 243,399      $ 270,176   

Add:

          

Fixed charges

     188,432        205,167        207,107        215,489        207,100   

Amortization of capitalized interest

     496        496        496        496        496   

Distributed income (loss) of equity investees

     (3,438     5,651        13,109        22,682        22,743   

Less:

          

Capitalized interest

     —          —          —          —          —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL EARNINGS

$ 398,459    $ 413,488    $ 506,603    $ 482,066    $ 500,515   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Computation of Fixed Charges:

Interest expense

$ 107,728    $ 118,358    $ 118,873    $ 119,238    $ 108,453   

Capitalized interest

  —        —        —        —        —     

Amortization of debt issue costs

  4,716      4,744      4,792      5,476      5,245   

Interest factor on rent expense

  75,988      82,065      83,442      90,775      93,402   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL FIXED CHARGES

$ 188,432    $ 205,167    $ 207,107    $ 215,489    $ 207,100   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES (1)

  2.11   2.02   2.45   2.24   2.42
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(1)  For the purposes of calculating the ratio of earnings to fixed charges, earnings consist of income 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.