Exhibit 12.1
Isle of Capri Casinos, Inc.
Exhibit 12.1 - Ratio of Earnings to Fixed Charges
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| Nine Months |
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| Ended |
| Fiscal Year Ended |
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| 1/27/2013 |
| 4/29/2012 |
| 4/24/2011 |
| 4/25/2010 |
| 4/26/2009 |
| 4/27/2008 |
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| (dollars in millions) |
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Earnings: |
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Income from continuing ops before income taxes and noncontrolling interest |
| $ | (0.8 | ) | $ | (2.3 | ) | $ | 10.7 |
| $ | (1.6 | ) | $ | 29.0 |
| $ | (51.0 | ) |
Add: |
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Fixed charges identified below |
| 73.2 |
| 97.7 |
| 100.2 |
| 83.1 |
| 100.8 |
| 117.3 |
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Deduct: |
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Interest capitalized during the period |
| 2.3 |
| 1.1 |
| 0.1 |
| 0.1 |
| 0.2 |
| 1.6 |
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Adjusted Earnings |
| $ | 70.1 |
| $ | 94.3 |
| $ | 110.8 |
| $ | 81.4 |
| $ | 129.6 |
| $ | 64.7 |
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Fixed charges: |
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Interest expense |
| $ | 64.4 |
| $ | 87.9 |
| $ | 91.9 |
| $ | 75.4 |
| $ | 92.9 |
| $ | 107.6 |
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Interest capitalized |
| 2.3 |
| 1.1 |
| 0.1 |
| 0.1 |
| 0.2 |
| 1.6 |
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Interest portion of rent expense |
| 6.5 |
| 8.7 |
| 8.1 |
| 7.6 |
| 7.7 |
| 8.1 |
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Adjusted fixed charges |
| $ | 73.2 |
| $ | 97.7 |
| $ | 100.1 |
| $ | 83.1 |
| $ | 100.8 |
| $ | 117.3 |
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Ratio of Earnings to Fixed Charges |
| (1 | ) | (2 | ) | 1.1 |
| (3 | ) | 1.3 |
| (4 | ) |
(1) For the nine months ended January 27, 2013, earnings were insufficient to cover fixed charges by approximately $3.1 million.
(2) For the year ended April 29, 2012, earnings were insufficient to cover fixed charges by approximately $3.4 million.
(3) For the year ended April 25, 2010, earnings were insufficient to cover fixed charges by approximately $1.7 million.
(4) For the year ended April 27, 2008, earnings were insufficient to cover fixed charges by approximately $52.6 million.