Attached files
| file | filename |
|---|---|
| EX-99.3 - EX-99.3 - Gaming & Leisure Properties, Inc. | d582300dex993.htm |
| EX-99.2 - EX-99.2 - Gaming & Leisure Properties, Inc. | d582300dex992.htm |
| EX-99.1 - EX-99.1 - Gaming & Leisure Properties, Inc. | d582300dex991.htm |
| EX-5.2 - EX-5.2 - Gaming & Leisure Properties, Inc. | d582300dex52.htm |
| EX-5.1 - EX-5.1 - Gaming & Leisure Properties, Inc. | d582300dex51.htm |
| EX-1.1 - EX-1.1 - Gaming & Leisure Properties, Inc. | d582300dex11.htm |
| 8-K - 8-K - Gaming & Leisure Properties, Inc. | d582300d8k.htm |
Exhibit 12.1
Gaming and Leisure Properties, Inc.
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(In Thousands, Except Ratio)
| For the Year Ended December 31, 2017 |
For the Year Ended December 31, 2016 |
For the Year Ended December 31, 2015 |
For the Year Ended December 31, 2014 |
For the Year Ended December 31, 2013 |
For the Three Months Ended March 31, 2018 |
|||||||||||||||||||
| Income from continuing operations before income taxes |
390,385 | 296,850 | 135,564 | 143,920 | 30,449 | 98,264 | ||||||||||||||||||
| Add: |
||||||||||||||||||||||||
| Fixed charges (from below) (1) |
218,024 | 186,896 | 125,224 | 118,049 | 19,477 | 54,298 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Earnings, as defined: |
608,409 | 483,746 | 260,788 | 261,969 | 49,926 | 152,562 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Fixed charges: |
||||||||||||||||||||||||
| Interest expense, including the amortization of debt issuance costs |
217,068 | 185,896 | 124,183 | 117,030 | 19,254 | 54,068 | ||||||||||||||||||
| Estimate of the interest within rental expense |
956 | 1,000 | 1,041 | 1,019 | 223 | 230 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total fixed charges before preferred stock dividends: |
218,024 | 186,896 | 125,224 | 118,049 | 19,477 | 54,298 | ||||||||||||||||||
| Preferred stock dividends |
— | — | — | — | — | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total combined fixed charges and preferred stock dividends: |
218,024 | 186,896 | 125,224 | 118,049 | 19,477 | 54,298 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Ratio of earnings to fixed charges and preferred stock dividends: |
2.79 | 2.59 | 2.08 | 2.22 | 2.56 | 2.81 | ||||||||||||||||||
| (1) | For the purpose of computing the Company’s ratio of earnings to fixed charges, “earnings” is the amount resulting from adding: (a) pre-tax income from continuing operations and (b) fixed charges. “Fixed charges” is the amount equal to the sum of: (a) interest expensed; (b) amortization of capitalized expenses related to indebtedness, and (c) an estimate of the interest within rental expense. |