EX-12.1 3 dex121.txt COMPUTATION OF RATIO Exhibit 12.1 Mohegan Tribal Gaming Authority Ratio of Earnings to Fixed Charges
Six Months Fiscal Years Ended September 30, Ended March 31, --------------------------------------------- ----------------- 2001 2000 1999 1998 1997(1) 2002 2001 -------- -------- ------- -------- ------- ------- -------- (in thousands, except ratios) Income from continuing operations... $205,439 $146,608 $ 320 $ 88,148 $39,374 $27,604 $ 69,234 Amortization of capitalized interest 794 794 794 794 794 1,097 397 Fixed charges....................... 57,004 50,904 58,442 51,055 46,327 40,966 24,620 Capitalized interest................ (27,408) (9,880) (534) -- -- (6,322) (10,711) -------- -------- ------- -------- ------- ------- -------- Earnings............................ $235,829 $188,426 $59,022 $139,997 $86,495 $63,345 $ 83,540 ======== ======== ======= ======== ======= ======= ======== Interest expense.................... $ 25,060 $ 37,799 $55,595 $ 50,172 $45,095 $31,946 $ 11,815 Capitalized interest................ 27,408 9,880 534 -- -- 6,322 10,711 Amortization of financing fees...... 4,536 3,225 2,313 883 1,232 2,698 2,094 -------- -------- ------- -------- ------- ------- -------- Total fixed charges................. $ 57,004 $ 50,904 $58,442 $ 51,055 $46,327 $40,966 $ 24,620 ======== ======== ======= ======== ======= ======= ======== Ratio of earnings to fixed charges..................... 4.14x 3.70x 1.01x 2.74x 1.87x 1.55x 3.39x ======== ======== ======= ======== ======= ======= ========
-------- (1) The Authority commenced operations on October 12, 1996.