| Six Months Ended June 30, | Year Ended December 31, | |||||||||||||||||||||||||||
| 2008(1) | 2007 | 2007(1) | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||||||||
| (in thousands) | ||||||||||||||||||||||||||||
| Income (loss) before income taxes and noncontrolling interest | (24,336 | ) | 142,192 | 138,279 | 504,246 | 287,936 | 481,447 | 66,634 | ||||||||||||||||||||
| Add: Fixed charges | 272,810 | 197,715 | 478,483 | 238,534 | 126,679 | 148,001 | 131,482 | |||||||||||||||||||||
| Add: Amortization of interest capitalized | 6,436 | 1,043 | 4,298 | 2,010 | 1,933 | 1,855 | 1,703 | |||||||||||||||||||||
| Less: Interest capitalized | (62,220 | ) | (104,787 | ) | (223,248 | ) | (94,594 | ) | (22,700 | ) | (4,601 | ) | (5,640 | ) | ||||||||||||||
Earnings as adjusted | 192,690 | 236,163 | 397,812 | 650,196 | 393,848 | 626,702 | 194,179 | |||||||||||||||||||||
| Interest expensed | 203,174 | 89,021 | 244,808 | 135,853 | 96,292 | 138,077 | 122,442 | |||||||||||||||||||||
| Interest capitalized | 62,220 | 104,787 | 223,248 | 94,594 | 22,700 | 4,601 | 5,640 | |||||||||||||||||||||
| Interest in rental expense | 7,416 | 3,907 | 10,427 | 8,087 | 7,687 | 5,323 | 3,400 | |||||||||||||||||||||
Total fixed charges | 272,810 | 197,715 | 478,483 | 238,534 | 126,679 | 148,001 | 131,482 | |||||||||||||||||||||
Earnings to Fixed Charges(2) | — | 1.19 | — | 2.73 | 3.11 | 4.23 | 1.48 | |||||||||||||||||||||
Deficiency Amount | (80,120 | ) | — | (80,671 | ) | — | — | — | — | |||||||||||||||||||
| (1) | Las Vegas Sands Corp.’s earnings were insufficient to cover fixed charges by $80.7 million and $80.1 million for the year ended December 31, 2007 and the six months ended June 30, 2008, respectively. | |
| (2) | Currently, we have no shares of preferred stock outstanding and have not paid any dividends on preferred stock in the periods presented. Therefore, the ratio of earnings to combined fixed charges and preferred stock dividends is not different from the ratio of earnings to fixed charges. |
