EX-12.1 2 c50022exv12w1.htm EX-12.1 EX-12.1
Exhibit 12.1
LodgeNet Interactive Corporation and Subsidiaries
Statement Regarding Computation of Ratios (Unaudited)
(Dollar amounts in thousands, except ratios)
Computation of Coverage of Fixed Charges
                                         
    2008     2007     2006     2005     2004  
Net (loss) income
   $ (48,418 )   $ (65,172 )   $ 1,841     $ (6,959 )   $ (20,781 )
 
                                        
Add:
                                        
Provision (benefit) for income taxes
     849       (683 )     299       450       421  
Fixed charges (see below)
     45,215       43,531       27,470       31,241       33,946  
 
                              
Earnings available to cover fixed charges
   $ (2,354 )   $ (22,324 )   $ 29,610     $ 24,732     $ 13,586  
 
                              
 
                                        
Fixed charges (1):
                                        
Interest
   $ 42,551     $ 40,950     $ 25,730     $ 29,351     $ 31,891  
Amortization of debt costs
     1,810       1,731       1,495       1,636       1,734  
Amortization of debt discount
     —       —       —       —       82  
Interest portion of rentals
     854       850       245       254       239  
 
                              
Total fixed charges
   $ 45,215     $ 43,531     $ 27,470     $ 31,241     $ 33,946  
 
                              
 
                                        
(Deficiency) earnings in the coverage of fixed charges
   $ (47,569 )   $ (65,855 )   $ 2,140     $ (6,509 )   $ (20,360 )
 
                              
 
                                        
Ratio of earnings to fixed charges
     —       —       1.08       —       —  
 
                              
 
(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).