EX-12.1 22 a2150048zex-12_1.htm EX-12.1

EXHIBIT 12.1

 

AMC ENTERTAINMENT INC. AND SUBSIDIARES

RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in thousands)

 

RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

Pro Forma
Actual Year
26 weeks ended
September 30,
2004

 

Actual Quarter
26 weeks ended
September 30,
2004

 

(restated)
Actual Quarter
26 weeks ended
October 3,
2003

 

Pro Forma
Actual Year
52 weeks ended
April 1,
2004

 

Actual Year
52 weeks ended
April 1,
2004

 

(restated)
Actual Year
53 weeks ended
April 3,
2003

 

(restated)
Actual Year
52 weeks ended
March 28,
2002

 

(restated)
Actual Year
52 weeks ended
March 29,
2001

 

Actual Year
52 weeks ended
March 30,
2000

 

 

 

(In thousands, except ratios)

 

EARNINGS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before income taxes from continuing operations

 

$

8,593

 

$

23,480

 

$

31,679

 

$

(34,247

)

$

4,117

 

$

(18,462

)

$

(3,353

)

$

(135,087

)

$

(81,247

)

Add:Fixed charges (below)

 

114,793

 

99,906

 

91,488

 

223,414

 

185,050

 

182,021

 

141,693

 

157,606

 

136,856

 

Depreciation on capitalized interest

 

715

 

715

 

678

 

1,422

 

1,422

 

1,239

 

1,214

 

1,107

 

845

 

Less:Interest capitalized (below)

 

(439

)

(439

)

(1,887

)

(2,658

)

(2,658

)

(4,095

)

(2,677

)

(4,186

)

(7,899

)

Undistributed (income) loss-Joint Ventures

 

—

 

—

 

—

 

—

 

—

 

(44

)

29

 

2,970

 

2,065

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings for ratio

 

123,662

 

123,662

 

121,958

 

187,931

 

187,931

 

160,659

 

136,906

 

22,410

 

50,620

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on borrowings

 

53,784

 

38,897

 

31,929

 

105,327

 

66,963

 

65,585

 

48,015

 

64,347

 

54,088

 

Interest on capital and financing lease obligations

 

5,005

 

5,005

 

5,510

 

10,754

 

10,754

 

12,215

 

12,745

 

12,653

 

8,615

 

Interest capitalized

 

439

 

439

 

1,887

 

2,658

 

2,658

 

4,095

 

2,677

 

4,186

 

7,899

 

Estimated interest portion of rental expense (1)

 

55,565

 

55,565

 

52,162

 

104,675

 

104,675

 

100,126

 

78,256

 

76,420

 

66,254

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges

 

114,793

 

99,906

 

91,488

 

223,414

 

185,050

 

182,021

 

141,693

 

157,606

 

136,856

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES IN EXCESS OF EARNINGS

 

$

—

 

$

—

 

$

—

 

$

35,483

 

$

—

 

$

21,362

 

$

4,787

 

$

135,196

 

$

86,236

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

1.1

 

1.2

 

1.3

 

—

 

1.0

 

—

 

—

 

—

 

—

 

 

The ratio of earnings to fixed charges represents the number of times fixed charges are covered by earnings.  For purposes of computing this ratio, earnings consist of earnings (loss) from continuing operations before income taxes, plus fixed charges (excluding capitalized interest), amortization of capitalized interest, and undistributed equity in losses of joint ventures.  Fixed charges consist of interest expense, interest capitalized and one-third of rent expense on operating leases, estimated by the Company to be representative of the interest factor attributable to such rent expense.

 

(1)          Used one-third of rent expense on operating leases.