EX-12.1 4 d494877dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Golden Entertainment, Inc.

Computation of Ratio of Earnings to Fixed Charges

 

     Fiscal Year Ended      Nine Months
Ended
 

(in thousands, except for ratios)

   Dec. 30,
2012
     Dec. 29,
2013
     Dec. 28,
2014
    Dec. 31,
2015(1)
     Dec. 31,
2016
     Sep. 30,
2017
 

Computation of earnings:

             

Income (loss) before income tax benefit

   $ 696      $ 18,651      $ (24,845   $ 14,551      $ 11,975      $ 4,717  

Fixed charges, as calculated below

     954        1,265        1,228       3,500        8,272        7,013  
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

    

 

 

 

Total earnings

   $ 1,650      $ 19,916      $ (23,617   $ 18,051      $ 20,247      $ 11,730  
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

    

 

 

 

Computation of fixed charges:

             

Interest expense, including amortization of debt discount and issuance costs

     940        1,244        1,209       2,810        6,455        5,634  

Estimated interest expense portion of rental expense(2)

     14        21        19       690        1,817        1,379  
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

    

 

 

 

Total fixed charges

   $ 954      $ 1,265      $ 1,228     $ 3,500      $ 8,272      $ 7,013  
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

    

 

 

 

Ratio of earnings (loss) to fixed charges(3)

     1.73        15.74        —         5.16        2.45        1.67  

 

(1) Our consolidated financial statements include the operating results of Sartini Gaming, Inc. from and after August 1, 2015, following the consummation of the acquisition thereof.
(2) Rental expense amounts relate to the interest factor inherent in our operating leases. The portion of total rental expense that represents the interest factor is estimated to be the effective rate during such time.
(3) Our earnings were inadequate to cover fixed charges for the fiscal year ended December 28, 2014 by $24.8 million.

For the periods indicated above, we had no outstanding shares of preferred stock with required dividend payments. Therefore, the ratios of earnings to combined fixed charges and preferred stock dividends are identical to the ratios presented in the tables above.