Exhibit 12.1
Pinnacle Entertainment, Inc.
Ratio of Earnings to Fixed Charges
Year Ended December 31, | ||||||||||||||||||||
($ in thousands) | 2009 | 2010 | 2011 | 2012 | 2013 | |||||||||||||||
Earnings: | ||||||||||||||||||||
Add: | ||||||||||||||||||||
Pre-tax income (loss) from continuing operations, before equity method investees | $ | (68,362 | ) | $ | (52,368 | ) | $ | 31,775 | $ | 22,307 | $ | (41,199 | ) | |||||||
Fixed Charges | 87,668 | 111,449 | 110,805 | 119,425 | 178,723 | |||||||||||||||
Subtract: | ||||||||||||||||||||
Interest Capitalized | (13,758 | ) | (4,041 | ) | (10,303 | ) | (20,310 | ) | (3,282 | ) | ||||||||||
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Total Earnings | $ | 5,548 | $ | 55,040 | $ | 132,277 | $ | 121,422 | $ | 134,242 | ||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expense, net of capitalized interest and inclusive of financing costs | $ | 70,317 | $ | 103,093 | $ | 95,705 | $ | 94,484 | $ | 170,218 | ||||||||||
Capitalized interest | 13,758 | 4,041 | 10,303 | 20,310 | 3,282 | |||||||||||||||
Estimated interest portion in rent expense | 3,593 | 4,315 | 4,797 | 4,631 | 5,223 | |||||||||||||||
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Total Fixed Charges | $ | 87,668 | $ | 111,449 | $ | 110,805 | $ | 119,425 | $ | 178,723 | ||||||||||
Ratio of earnings (loss) to fixed charges | 0.06x | 0.49x | 1.19x | 1.02x | 0.75x |