EXHIBIT 12
Cinemark USA, Inc.
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
Year Ended | ||||||||||||||||||||
December 31, | ||||||||||||||||||||
2008 | 2009 | 2010 | 2011 | 2012 | ||||||||||||||||
Computation of Earnings: | ||||||||||||||||||||
Pretax income (loss) from continuing operations before equity income (loss) | $ | 18,015 | $ | 196,798 | $ | 212,969 | $ | 202,174 | $ | 285,891 | ||||||||||
Add: | ||||||||||||||||||||
Fixed charges | 182,185 | 173,739 | 188,432 | 205,167 | 207,107 | |||||||||||||||
Amortization of capitalized interest | 489 | 496 | 496 | 496 | 496 | |||||||||||||||
Distributed income (loss) of equity investees | (2,373 | ) | (907 | ) | (3,438 | ) | 5,651 | 13,109 | ||||||||||||
Less: | ||||||||||||||||||||
Capitalized interest | (270 | ) | — | — | — | — | ||||||||||||||
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TOTAL EARNINGS | $ | 156,394 | $ | 349,230 | $ | 398,459 | $ | 413,488 | $ | 506,603 | ||||||||||
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Computation of Fixed Charges: | ||||||||||||||||||||
Interest expense | $ | 111,362 | $ | 97,730 | $ | 107,728 | $ | 118,358 | $ | 118,873 | ||||||||||
Capitalized interest | 270 | — | — | — | — | |||||||||||||||
Amortization of debt issue costs | 4,696 | 4,775 | 4,716 | 4,744 | 4,792 | |||||||||||||||
Interest factor on rent expense | 65,857 | 71,234 | 75,988 | 82,065 | 83,442 | |||||||||||||||
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TOTAL FIXED CHARGES | $ | 182,185 | $ | 173,739 | $ | 188,432 | $ | 205,167 | $ | 207,107 | ||||||||||
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RATIO OF EARNINGS TO FIXED CHARGES | 1.11x | 2.28x | 2.11x | 2.02x | 2.45x | |||||||||||||||
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