EX-12 11 pnkex12123112.htm EXHIBIT PNK EX 12 12.31.12


Exhibit 12

Pinnacle Entertainment, Inc.
Computation of Ratio of Earnings to Fixed Charges

 
For the year ended December 31,
 
2008
 
2009
 
2010
 
2011
 
2012
 
(in thousands)
Earnings:
 
 
 
 
 
 
 
 
 
Pre-tax income (loss) from continuing operations, before equity method investment earnings
$
(153,456
)
 
$
(63,335
)
 
$
(52,534
)
 
$
33,119

 
$
12,816

Add: Fixed charges
81,645

 
88,005

 
111,811

 
110,805

 
119,646

Less: Capitalized interest
(24,877
)
 
(13,758
)
 
(4,041
)
 
(10,303
)
 
(20,310
)
Total Earnings
$
(96,688
)
 
$
10,912

 
$
55,236

 
$
133,621

 
$
112,152

 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest expense, net of capitalized interest and inclusive of amortization of debt issuance costs
$
52,476

 
$
70,335

 
$
103,093

 
$
95,705

 
$
94,501

Capitalized interest
24,877

 
13,758

 
4,041

 
10,303

 
20,310

Estimated interest portion of rent expense
4,292

 
3,912

 
4,677

 
4,797

 
4,835

Total fixed charges
81,645

 
88,005

 
111,811

 
110,805

 
119,646

Ratio of earnings to fixed charges
—

 
—

 
—

 
1.21x

 
—