EX-12.1 4 exhibit121fixedchargeratio.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)

For the years ended December 31,
 
2015
 
2014
 
2013
 
2012
 
2011
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
Interest expensed
 
$
86,849

 
$
96,286

 
$
103,071

 
$
110,619

 
$
157,185

 
Interest capitalized
 
3,094

 
2,983

 
1,610

 
1,322

 
1,835

 
Amortization of capitalized debt costs
 
4,039

 
4,602

 
6,130

 
10,417

 
10,000

 
Interest component of rental expense
 
4,841

 
4,220

 
3,142

 
2,970

 
2,419

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
 
$
98,823

 
$
108,091

 
$
113,953

 
$
125,328

 
$
171,439

 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
 
$
112,222

 
$
104,215

 
$
108,204

 
$
101,857

 
$
65,296

 
Add:
 
 
 
 
 
 
 
 
 
 
 
Income tax expense
 
22,192

 
9,885

 
20,243

 
31,757

 
7,877

 
Fixed charges
 
98,823

 
108,091

 
113,953

 
125,328

 
171,439

 
Amortization of capitalized interest
 
1,021

 
897

 
830

 
761

 
659

 
Less:
 
 
 
 
 
 
 
 
 
 
 
Interest capitalized
 
(3,094
)
 
(2,983
)
 
(1,610
)
 
(1,322
)
 
(1,835
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total earnings
 
$
231,164

 
$
220,105

 
$
241,620

 
$
258,381

 
$
243,436

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of total earnings to total fixed charges
 
2.3x

 
2.0x

 
2.1x

 
2.1x

 
1.4x

Excess
 
 
132,341

 
112,014

 
127,667

 
133,053

 
71,997




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