EXHIBIT 12
ATLANTIC COAST ENTERTAINMENT HOLDINGS, INC. AND SUBSIDIARY
RATIO OF EARNINGS TO FIXED CHARGES
Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||
December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||
2005 | 2004 | 2003 | 2002 | 2001 | |||||||||||||||||
(In thousands) | |||||||||||||||||||||
Income (loss) before income taxes | $ | (11,451 | ) | $ | (9,218 | ) | $ | (16,895 | ) | $ | (6,985 | ) | $ | (3,274 | ) | ||||||
Fixed charges | 6,742 | 9,631 | 13,593 | 13,810 | 13,562 | ||||||||||||||||
Amortization of capitalized interest | 196 | 353 | 303 | 237 | — | ||||||||||||||||
Income (loss) as defined | $ | (4,513 | ) | $ | 766 | $ | (2,999 | ) | $ | 7,062 | $ | 10,288 | |||||||||
Fixed charges: | |||||||||||||||||||||
Interest expense | $ | 2,012 | $ | 7,767 | $ | 12,026 | $ | 11,640 | $ | 11,279 | |||||||||||
Interest capitalized | — | 86 | 300 | 766 | 1,207 | ||||||||||||||||
Amortized capitalized expenses related to indebtedness | 3,903 | 1,116 | 555 | 555 | 174 | ||||||||||||||||
Estimated interest within rental expense | 827 | 662 | 712 | 849 | 902 | ||||||||||||||||
Fixed charges as defined | $ | 6,742 | $ | 9,631 | $ | 13,593 | $ | 13,810 | $ | 13,562 | |||||||||||
Ratio of income (loss) to fixed charges | (0.7 | )x | 0.1 | x | (0.2 | )x | 0.5 | x | 0.8 | x | |||||||||||
Deficiency of less than one-to-one ratio | $ | 11,255 | $ | 8,865 | $ | 16,592 | $ | 6,748 | $ | 3,274 | |||||||||||