CEDAR FAIR L P - FORM 10-K - EX-12.1 - RATIO OF EARNINGS TO FIXED CHARGES - February 24, 2017

Attached files

file filename
10-K - ANNUAL REPORT ON FORM 10-K - CEDAR FAIR L Pcedarfair-10kx2016.htm
EX-32 - SECTION 906 CERTIFICATION - CEDAR FAIR L Pcedarfair-q4x2016xex32.htm
EX-31.2 - SECTION 302 CERTIFICATION - CEDAR FAIR L Pcedarfair-q4x2016xex312.htm
EX-31.1 - SECTION 302 CERTIFICATION - CEDAR FAIR L Pcedarfair-q4x2016xex311.htm
EX-23 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - CEDAR FAIR L Pexhibit232016.htm
EX-21 - SUBSIDIARIES - CEDAR FAIR L Pexhibit212016.htm
Exhibit 12.1

CEDAR FAIR, L.P.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
($'s in thousands)

 
 
Years Ended December 31,
 
 
2016
 
2015
 
2014
 
2013
 
2012
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest expensed
 
$
83,863

 
$
86,849

 
$
96,286

 
$
103,071

 
$
110,619

Interest capitalized
 
2,331

 
3,094

 
2,983

 
1,610

 
1,322

Amortization of capitalized debt costs
 
4,030

 
4,039

 
4,602

 
6,130

 
10,417

Interest component of rental expense
 
4,279

 
4,841

 
4,220

 
3,142

 
2,970

Total fixed charges
 
$
94,503

 
$
98,823

 
$
108,091

 
$
113,953

 
$
125,328

 
 
 
 
 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
 
 
 
 
Net income (loss)
 
$
177,688

 
$
112,222

 
$
104,215

 
$
108,204

 
$
101,857

Add:
 
 
 
 
 
 
 
 
 
 
Income tax expense
 
71,418

 
22,192

 
9,885

 
20,243

 
31,757

Fixed charges
 
94,503

 
98,823

 
108,091

 
113,953

 
125,328

Amortization of capitalized interest
 
1,134

 
1,021

 
897

 
830

 
761

Less:
 
 
 
 
 
 
 
 
 
 
Interest capitalized
 
(2,331
)
 
(3,094
)
 
(2,983
)
 
(1,610
)
 
(1,322
)
Total earnings
 
$
342,412

 
$
231,164

 
$
220,105

 
$
241,620

 
$
258,381

 
 
 
 
 
 
 
 
 
 
 
Ratio of total earnings to total fixed charges
 
3.6x

 
2.3x

 
2.0x

 
2.1x

 
2.1x

Excess of total earnings over total fixed charges
 
$
247,909

 
$
132,341

 
$
112,014

 
$
127,667

 
$
133,053




69

CEDAR FAIR L P Reports