EX-12.1 4 c03399exv12w1.htm STATEMENT OF COMPUTATION OF RATIOS exv12w1
 

Exhibit 12.1
LodgeNet Entertainment Corporation and Subsidiary
Statement Regarding Computation of Ratios (Unaudited)
(Dollar amounts in thousands)
Computation of Coverage of Fixed Charges
                                         
    2005     2004     2003     2002     2001  
Net loss
   $ (6,959 )   $ (20,781 )   $ (35,052 )   $ (29,126 )   $ (26,408 )
Add:
                                        
Provision for income taxes
     450       421       459       550       689  
Add fixed charges (1):
                                        
Interest
     29,351       31,891       34,239       33,037       30,306  
Amortization of debt costs
     1,636       1,734       1,831       2,001       1,178  
Amortization of debt discount
     —       82       104       147       190  
Interest portion of rentals
     254       239       219       198       179  
 
                              
Earnings available to cover fixed charges
     24,732       13,586       1,800       6,807       6,134  
Less fixed charges
     31,241       33,946       36,393       35,383       31,853  
 
                              
Deficiency in the coverage of fixed charges
   $ (6,509 )   $ (20,360 )   $ (34,593 )   $ (28,576 )   $ (25,719 )
 
                              
(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).