Exhibit 12.1
Isle of Capri Casinos, Inc.
Ratio of Earnings to Fixed Charges
|
| YTD Q3 |
| FYE |
| FYE |
| FYE |
| FYE |
| FYE |
|
|
| 1/25/2015 |
| 4/27/2014 |
| 4/28/2013 |
| 4/29/2012 |
| 4/24/2011 |
| 4/25/2010 |
|
Earnings: |
|
|
|
|
|
|
|
|
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|
|
|
|
Income from continuing ops before income taxes and noncontrolling interest |
| 4.9 |
| (148.2 | ) | (45.8 | ) | (10.5 | ) | 2.6 |
| (12.1 | ) |
Add: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed charges identified below |
| 69.6 |
| 90.2 |
| 100.4 |
| 97.4 |
| 99.8 |
| 82.7 |
|
Deduct: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest capitalized during the period |
| — |
| 0.1 |
| 2.5 |
| 1.1 |
| 0.1 |
| 0.1 |
|
Adjusted Earnings |
| 74.5 |
| (58.1 | ) | 52.1 |
| 85.8 |
| 102.3 |
| 70.5 |
|
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Fixed charges: |
|
|
|
|
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|
|
|
|
|
|
|
|
Interest expense |
| 63.4 |
| 81.3 |
| 89.4 |
| 87.9 |
| 91.9 |
| 75.4 |
|
Interest capitalized |
| — |
| 0.2 |
| 2.6 |
| 1.1 |
| 0.1 |
| 0.1 |
|
Interest portion of rent expense (est. use 35%) |
| 6.2 |
| 8.7 |
| 8.4 |
| 8.4 |
| 7.8 |
| 7.2 |
|
Adjusted fixed charges |
| 69.6 |
| 90.2 |
| 100.4 |
| 97.4 |
| 99.8 |
| 82.7 |
|
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Ratio of Earnings to Fixed Charges |
| 1.1 |
| (1 | ) | (2 | ) | (3 | ) | 1.0 |
| (4 | ) |
(1) For the year ended April 27, 2014, earnings were insufficient to cover fixed charges by approximately $148.3 million.
(2) For the year ended April 28, 2013, earnings were insufficient to cover fixed charges by approximately $48.3 million.
(3) For the year ended April 29, 2012, earnings were insufficient to cover fixed charges by approximately $11.6 million.
(4) For the year ended April 25, 2010, earnings were insufficient to cover fixed charges by approximately $12.2 million.