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INTERVAL LEISURE GROUP, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except for ratios)
(Unaudited)
| Nine Months Ended September 30, | Years Ended December 31, | |||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2008 | 2007 | 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||
Earnings before income taxes and minority interest | $ | 95,288 | $ | 90,230 | $ | 116,100 | $ | 93,911 | $ | 78,447 | $ | 51,705 | $ | 24,510 | |||||||||
Interest expense | 5,487 | 165 | 205 | 357 | 623 | 1,162 | 2,020 | ||||||||||||||||
Interest portion of rental expense | 2,419 | 2,415 | 3,255 | 3,091 | 2,856 | 2,828 | 2,840 | ||||||||||||||||
Pre-tax income plus fixed charges | 103,194 | 92,810 | 119,560 | 97,359 | 81,926 | 55,695 | 29,370 | ||||||||||||||||
Interest expense | 5,487 | 165 | 205 | 357 | 623 | 1,162 | 2,020 | ||||||||||||||||
Interest portion of rental expense(1) | 2,419 | 2,415 | 3,255 | 3,091 | 2,856 | 2,828 | 2,840 | ||||||||||||||||
Total fixed charges | $ | 7,906 | $ | 2,580 | $ | 3,460 | $ | 3,448 | $ | 3,479 | $ | 3,990 | $ | 4,860 | |||||||||
Ratio of earnings to fixed charges | 13.1 | 36.0 | 34.6 | 28.2 | 23.5 | 14.0 | 6.0 | ||||||||||||||||
- (1)
- For purposes of computing the ratio of earnings to fixed charges, earnings consist of earnings before income taxes and minority interest plus fixed charges. Fixed charges consist of interest expense and a portion (approximately 33%) of rental expense that management believes is representative of the interest component of rental expense.
INTERVAL LEISURE GROUP, INC. AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (In thousands, except for ratios) (Unaudited)