MERISTAR HOSPITALITY CORPORATION | Exhibit 12 |
Statement Regarding Computation of Ratios
2005 | 2004 | 2003 | 2002 | 2001 | ||||||||||||||||
Income from continuing operations before minority interests, income tax expense (benefit), and (loss) gain on sale of assets (1) | $ | (179,114 | ) | $ | (74,135 | ) | $ | (126,017 | ) | $ | (83,718 | ) | $ | (34,706 | ) | |||||
Fixed charges: | ||||||||||||||||||||
Interest expense, net | 119,580 | 126,927 | 140,623 | 136,379 | 122,237 | |||||||||||||||
Interest capitalized | 13,017 | 5,605 | 3,062 | 3,993 | 6,098 | |||||||||||||||
Amortization of debt expense | 6,527 | 5,480 | 5,409 | 7,673 | 4,651 | |||||||||||||||
Preferred distributions to minority interests | — | 141 | 556 | 554 | 554 | |||||||||||||||
Total fixed charges | $ | 139,124 | $ | 138,153 | $ | 149,650 | $ | 148,599 | $ | 133,540 | ||||||||||
Income from continuing operations before minority interest, income tax expense (benefit), (loss) gain on sale of assets and fixed charges (excluding capitalized interest and preferred distributions to minority interests) | $ | (53,007 | ) | $ | 58,272 | $ | 20,015 | $ | 60,334 | $ | 92,182 | |||||||||
Divided by fixed charges | $ | 139,124 | $ | 138,153 | $ | 149,650 | $ | 148,599 | $ | 133,540 | ||||||||||
Ratio of earnings to fixed charges | N.M. | 0.42 | 0.13 | 0.41 | 0.69 | |||||||||||||||
Deficiency | $ | 192,131 | $ | 79,881 | $ | 129,635 | $ | 88,265 | $ | 41,358 |
(1) | This amount is before minority interests since the minority interests relate to majority-owned subsidiaries that have fixed charges. |
N.M.— | Not meaningful |