Attached files
| file | filename |
|---|---|
| EX-31.1 - EXHIBIT 31.1 - HAWAIIAN HOLDINGS INC | ex311q22018.htm |
| EX-32.2 - EXHIBIT 32.2 - HAWAIIAN HOLDINGS INC | ex322q22018.htm |
| EX-32.1 - EXHIBIT 32.1 - HAWAIIAN HOLDINGS INC | ex321q22018.htm |
| EX-31.2 - EXHIBIT 31.2 - HAWAIIAN HOLDINGS INC | ex312q22018.htm |
| 10-Q - 10-Q - HAWAIIAN HOLDINGS INC | ha-06302018x10q.htm |
Exhibit 12
Hawaiian Holdings, Inc.
Computation of Ratio of Earnings to Fixed Charges
Six Months Ended June 30, | Years Ended December 31, | |||||||||||||||||||||||
2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||||||
(in thousands, except ratio of earnings to fixed charges) | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income before income taxes(a) | $ | 142,882 | $ | 390,821 | $ | 361,219 | $ | 295,688 | $ | 113,447 | $ | 86,410 | ||||||||||||
Total fixed charges (see below) | 33,867 | 75,980 | 88,433 | 104,652 | 112,443 | 96,459 | ||||||||||||||||||
Interest capitalized | (4,593 | ) | (8,437 | ) | (2,651 | ) | (3,261 | ) | (8,024 | ) | (12,625 | ) | ||||||||||||
Earnings as adjusted | $ | 172,156 | $ | 458,364 | $ | 447,001 | $ | 397,079 | $ | 217,866 | $ | 170,244 | ||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest and amortization of debt discount and issuance costs | $ | 16,182 | $ | 30,901 | $ | 36,612 | $ | 55,678 | $ | 64,240 | $ | 50,453 | ||||||||||||
Portion of rental expense representative of the interest factor | 17,685 | 45,079 | 51,821 | 48,974 | 48,203 | 46,006 | ||||||||||||||||||
Total fixed charges | $ | 33,867 | $ | 75,980 | $ | 88,433 | $ | 104,652 | $ | 112,443 | $ | 96,459 | ||||||||||||
Ratio of earnings to fixed charges(b) | 5.08 | 6.03 | 5.05 | 3.79 | 1.94 | 1.76 | ||||||||||||||||||
Coverage deficiency | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
(a) | The Company adopted Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) and adjusted results from 2017 and 2016. Results from periods prior to 2016 have not been recast for the adoption of this standard. See Note 2 to the financial statements contained in Part I, Item 1 of this report for additional information. |
(b) | For purposes of calculating this ratio, earnings consist of income (loss) before income taxes plus fixed charges, net of capitalized interest. Fixed charges consist of interest expense, the amount amortized for debt discount and issuance cost, and the portion of rental expense representative of interest. |