Attached files
| file | filename |
|---|---|
| EX-32.1 - EXHIBIT 32.1 - MOHEGAN TRIBAL GAMING AUTHORITY | a2015930ex321.htm |
| EX-31.2 - EXHIBIT 31.2 - MOHEGAN TRIBAL GAMING AUTHORITY | a2015930ex312.htm |
| EX-32.2 - EXHIBIT 32.2 - MOHEGAN TRIBAL GAMING AUTHORITY | a2015930ex322.htm |
| EX-31.1 - EXHIBIT 31.1 - MOHEGAN TRIBAL GAMING AUTHORITY | a2015930ex311.htm |
| EX-10.25 - EXHIBIT 10.25 - MOHEGAN TRIBAL GAMING AUTHORITY | a20150930ex1025.htm |
| 10-K - FORM 10-K - MOHEGAN TRIBAL GAMING AUTHORITY | a2015930-10k.htm |
Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
For the Fiscal Years Ended September 30, | ||||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||
(in thousands, except ratios) | ||||||||||||||||||||
Net income (loss) | $ | 92,139 | $ | (24,558 | ) | $ | 47,542 | $ | 61,241 | $ | 111,843 | |||||||||
Fixed charges | 145,022 | 152,017 | 178,196 | 155,595 | 130,402 | |||||||||||||||
Amortization of capitalized interest | 2,302 | 2,203 | 2,204 | 2,221 | 2,229 | |||||||||||||||
Capitalized interest | — | (735 | ) | (1,976 | ) | (34 | ) | — | ||||||||||||
Loss attributable to non-controlling interests | 2,255 | 380 | 2,784 | 2,019 | 2,134 | |||||||||||||||
Earnings | $ | 241,718 | $ | 129,307 | $ | 228,750 | $ | 221,042 | 246,608 | |||||||||||
Interest expense, net of capitalized interest and amortization of debt issuance costs and accretion of bond premiums and discounts | $ | 136,105 | $ | 139,896 | $ | 157,865 | $ | 136,070 | $ | 109,899 | ||||||||||
Capitalized interest | — | 735 | 1,976 | 34 | — | |||||||||||||||
Amortization of debt issuance costs and accretion of bond premiums and discounts | 7,771 | 8,037 | 12,285 | 9,987 | 7,811 | |||||||||||||||
Interest portion of rental expense (1) | 919 | 1,144 | 1,096 | 1,256 | 1,326 | |||||||||||||||
Accretion of discount to the relinquishment liability | 227 | 2,205 | 4,974 | 8,248 | 11,366 | |||||||||||||||
Fixed charges | $ | 145,022 | $ | 152,017 | $ | 178,196 | $ | 155,595 | $ | 130,402 | ||||||||||
Ratio of earnings to fixed charges (2) | 1.67 | 0.85 | 1.28 | 1.42 | 1.89 | |||||||||||||||
(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. |