EXHIBIT 12.1
GLOBAL CASH ACCESS HOLDINGS, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
2006 | 2005 | 2004 | 2003 | 2002 | ||||||||||||||||
Interest expense per financial statements (1) | $ | 42,098 | $ | 44,165 | $ | 33,343 | $ | 6,762 | $ | 6,216 | ||||||||||
Interest expense related to rent (2) | 164 | 167 | 187 | 421 | 553 | |||||||||||||||
Total fixed charges | $ | 42,262 | $ | 44,332 | $ | 33,530 | $ | 7,183 | $ | 6,769 | ||||||||||
Net income per financial statements | $ | 26,609 | $ | 22,591 | $ | 254,555 | $ | 58,389 | $ | 50,422 | ||||||||||
Interest expense | 42,098 | 44,165 | 33,343 | 6,762 | 6,216 | |||||||||||||||
Minority loss | 183 | 139 | 137 | 400 | 1,040 | |||||||||||||||
Total earnings | $ | 68,890 | $ | 66,895 | $ | 288,035 | $ | 65,551 | $ | 57,678 | ||||||||||
Ratio of earnings to fixed charges | 1.6 x | 1.5 x | 8.6 x | 9.1 x | 8.5 x |
(1) | Interest expense includes interest expense on ATM funding arrangements, borrowings and the amortization of capitalized debt issuance costs related to all borrowings. | |
(2) | One-third of all rental expense is deemed to be interest. |