EX-12.1 8 c83700exv12w1.htm STATEMENT OF COMPUTATION OF RATIOS exv12w1
 

Exhibit 12.1

LodgeNet Entertainment Corporation and Subsidiaries

Statement Regarding Computation of Ratios (Unaudited)
(Dollar amounts in thousands)

Computation of Coverage of Fixed Charges

                                           
      2003   2002   2001   2000   1999
     
 
 
 
 
Net loss
   $ (35,052 )   $ (29,126 )   $ (26,408 )   $ (39,014 )   $ (36,428 )
Add:
                                        
 
Provision for income taxes
     459       550       689       325       370  
Add fixed charges (1):
                                        
 
Interest
     34,239       33,037       30,306       27,809       27,210  
 
Amortization of debt costs
     1,831       2,001       1,178       1,589       1,488  
 
Amortization of debt discount
     104       147       190       215       215  
 
Interest portion of rentals
     219       198       179       158       145  
 
    
     
     
     
     
 
Earnings available to cover fixed charges
     1,800       6,807       6,134       (8,918 )     (7,000 )
Less fixed charges
     36,393       35,383       31,853       29,771       29,058  
 
    
     
     
     
     
 
Deficiency in the coverage of fixed charges
   $ (34,593 )   $ (28,576 )   $ (25,719 )   $ (38,689 )   $ (36,058 )
 
    
     
     
     
     
 

(1)   Fixed charges consist of interest on all indebtedness, including amortization of debt issuance expense and capitalized interest, and one-third of rental expense (which is estimated to represent the interest portion thereof).