EX-12.1 3 exhibit1212017fixedcharger.htm RATIO OF EARNINGS TO FIXED CHARGES Exhibit
Exhibit 12.1

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

 
 
Years Ended December 31,
 
 
2017
 
2016
 
2015
 
2014
 
2013
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest expensed
 
$
85,603

 
$
83,863

 
$
86,849

 
$
96,286

 
$
103,071

Interest capitalized
 
2,524

 
2,331

 
3,094

 
2,983

 
1,610

Amortization of capitalized debt costs
 
3,896

 
4,030

 
4,039

 
4,602

 
6,130

Interest component of rental expense
 
4,958

 
4,279

 
4,841

 
4,220

 
3,142

Total fixed charges
 
$
96,981

 
$
94,503

 
$
98,823

 
$
108,091

 
$
113,953

 
 
 
 
 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
 
 
 
 
Net income
 
$
215,476

 
$
177,688

 
$
112,222

 
$
104,215

 
$
108,204

Add:
 
 
 
 
 
 
 
 
 
 
Income tax expense
 
1,112

 
71,418

 
22,192

 
9,885

 
20,243

Fixed charges
 
96,981

 
94,503

 
98,823

 
108,091

 
113,953

Amortization of capitalized interest
 
1,230

 
1,134

 
1,021

 
897

 
830

Less:
 
 
 
 
 
 
 
 
 
 
Interest capitalized
 
(2,524
)
 
(2,331
)
 
(3,094
)
 
(2,983
)
 
(1,610
)
Total earnings
 
$
312,275

 
$
342,412

 
$
231,164

 
$
220,105

 
$
241,620

 
 
 
 
 
 
 
 
 
 
 
Ratio of total earnings to total fixed charges
 
3.2x

 
3.6x

 
2.3x

 
2.0x

 
2.1x

Excess of total earnings over total fixed charges
 
$
215,294

 
$
247,909

 
$
132,341

 
$
112,014

 
$
127,667




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