Exhibit 12.1
MoneyGram International, Inc.
Calculation of Ratios
Year Ended December 31, | ||||||||||||||||||||
2004 | 2003 | 2002 | 2001 | 2000 | ||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Earnings | ||||||||||||||||||||
Pretax income from continuing operations (1) | 89,020 | 88,171 | 86,687 | 75,479 | 59,951 | |||||||||||||||
Fixed charges | 5,904 | 11,287 | 17,116 | 21,594 | 20,623 | |||||||||||||||
Total earnings | 94,924 | 99,458 | 103,803 | 97,073 | 80,574 | |||||||||||||||
Fixed Charges | ||||||||||||||||||||
Interest expensed (2) | 5,573 | 9,857 | 15,212 | 20,329 | 19,584 | |||||||||||||||
Amortization of debt expense, premium and discount | 155 | 1,088 | 1,572 | 1,007 | 795 | |||||||||||||||
Estimated interest component of rent expense | 176 | 342 | 332 | 257 | 244 | |||||||||||||||
Total fixed charges | 5,904 | 11,287 | 17,116 | 21,594 | 20,623 | |||||||||||||||
Preferred dividend requirement | — | 572 | 1,141 | 1,137 | 1,134 | |||||||||||||||
Total fixed charges and preferred dividend requirement | 5,904 | 11,859 | 18,257 | 22,731 | 21,757 | |||||||||||||||
Ratio of earnings to fixed charges | 16.08 | 8.81 | 6.06 | 4.50 | 3.91 | |||||||||||||||
Ratio of earnings to fixed charges and preferred dividend requirements | 16.08 | 8.39 | 5.69 | 4.27 | 3.70 |
(1) | Pretax income from continuing operations for 2004 includes $20,661 of expense related to the redemption of preferred stock and debt in connection with the spin-off. | |
(2) | Interest expensed through June 30, 2004 relates to Viad Corp’s long-term debt prior to the June 30, 2004 spin-off. Interest expensed in 2004 for MoneyGram’s long-term debt totaled $2,448. |