Attached files

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10-K - FORM 10-K - CINEMARK USA INC /TXd58600d10k.htm
EX-21 - EX-21 - CINEMARK USA INC /TXd58600dex21.htm
EX-31.1 - EX-31.1 - CINEMARK USA INC /TXd58600dex311.htm
EX-32.1 - EX-32.1 - CINEMARK USA INC /TXd58600dex321.htm
EX-31.2 - EX-31.2 - CINEMARK USA INC /TXd58600dex312.htm
EX-32.2 - EX-32.2 - CINEMARK USA INC /TXd58600dex322.htm

EXHIBIT 12

CINEMARK USA, INC.

CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

     Year Ended  
   December 31,  
     2011     2012     2013     2014     2015  

Computation of Earnings:

          

Pretax income from continuing operations before equity income

   $ 202,174      $ 285,891      $ 243,399      $ 270,176      $ 322,225   

Add:

          

Fixed charges

     205,167        207,107        215,489        207,100        207,914   

Amortization of capitalized interest

     496        496        496        496        496   

Distributed income of equity investees

     5,651        13,109        22,682        22,743        28,126   

Less:

          

Capitalized interest

     —          —          —          —          —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL EARNINGS

   $ 413,488      $ 506,603      $ 482,066      $ 500,515      $ 558,761   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Computation of Fixed Charges:

          

Interest expense

   $ 118,358      $ 118,873      $ 119,238      $ 108,453      $ 107,590   

Capitalized interest

     —          —          —          —          —     

Amortization of debt issue costs

     4,744        4,792        5,476        5,245        5,151   

Interest factor on rent expense

     82,065        83,442        90,775        93,402        95,173   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL FIXED CHARGES

   $ 205,167      $ 207,107      $ 215,489      $ 207,100      $ 207,914   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES (1)

     2.02     2.45     2.24     2.42     2.69
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(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 costs and that portion of rental expense which we believe to be representative of the interest factor.