EX-12.1 7 a2218233zex-12_1.htm EX-12.1

Exhibit 12.1

 

 

 

Spirit Holdings

 

 

 

Twelve Months Ended

 

 

 

December 31,
2013

 

December 31,
2012

 

December 31,
2011

 

December 31,
2010

 

December 31,
2009

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

Pre-tax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees

 

$

(430.8

)

$

11.4

 

$

280.3

 

$

297.8

 

$

272.8

 

Add: Fixed Charge (from below)

 

81.9

 

95.1

 

89.6

 

73.0

 

54.0

 

Add: Amortization of capitalized interest

 

3.8

 

3.6

 

2.9

 

2.1

 

2.3

 

Add: Distributed income of equity investee

 

0.5

 

(0.7

)

(1.0

)

(0.7

)

(0.2

)

Subtract: Capitalized interest expense

 

5.8

 

7.5

 

 

 

7.1

 

 

 

$

(350.4

)

$

101.9

 

$

371.8

 

$

372.2

 

$

321.8

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expense (including amortization of debt issuance costs, debt discounts and premiums)

 

$

70.1

 

$

82.9

 

$

77.5

 

$

59.1

 

$

43.6

 

Add: Capitalized interest expense

 

5.8

 

7.5

 

5.4

 

10.3

 

7.1

 

Add: Portion of rentals representing interest (1/3 of Operating Lease Payments)

 

6.0

 

4.6

 

6.7

 

3.6

 

3.3

 

 

 

$

81.9

 

$

95.0

 

$

89.6

 

$

73.0

 

$

54.0

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

(4.3

)

1.1

 

4.1

 

5.1

 

6.0