Exhibit 12.1
FelCor Lodging Limited Partnership | |||||||||||||||
Computation of Ratio of Earnings To Fixed Charges | |||||||||||||||
(in thousands, except ratios) | Three Months Ended March 31, | Fiscal Year Ended December 31, | |||||||||||||
2015 | 2014 | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||
Income (loss) from continuing operations | (4,895 | ) | (20,428 | ) | 27,750 | (83,793 | ) | (187,311 | ) | (133,619 | ) | (99,620 | ) | ||
Equity in income of unconsolidated entities | (149 | ) | (643 | ) | (5,010 | ) | (4,586 | ) | (2,779 | ) | 2,068 | (16,916 | ) | ||
Pre-tax income (loss) from continuing operations before adjustment for income or loss from equity investees | (5,044 | ) | (21,071 | ) | 22,740 | (88,379 | ) | (190,090 | ) | (131,551 | ) | (116,536 | ) | ||
Fixed charges: | |||||||||||||||
Interest expense | 19,486 | 25,242 | 90,743 | 103,865 | 121,689 | 126,278 | 127,145 | ||||||||
Capitalized interest | 3,478 | 4,005 | 16,266 | 12,809 | 12,930 | 2,206 | 638 | ||||||||
The sum of interest expensed and capitalized, amortized premiums, discounts and capitalized expenses related to indebetedness | 22,964 | 29,247 | 107,009 | 116,674 | 134,619 | 128,484 | 127,783 | ||||||||
Amortization of capitalized interest | 1,783 | 1,513 | 6,072 | 4,960 | 3,996 | 3,007 | 1,736 | ||||||||
Distributed income of equity investees | 580 | 824 | 4,128 | 4,440 | 4,160 | 2,261 | 2,190 | ||||||||
Interest capitalized | (3,478 | ) | (4,005 | ) | (16,266 | ) | (12,809 | ) | (12,930 | ) | (2,206 | ) | (638 | ) | |
Earnings | 16,805 | 6,508 | 123,683 | 24,886 | (60,245 | ) | (5 | ) | 14,535 | ||||||
Fixed charges | 22,964 | 29,247 | 107,009 | 116,674 | 134,619 | 128,484 | 127,783 | ||||||||
Ratio of Earnings to Fixed Charges | 0.73 | 0.22 | 1.16 | 0.21 | (0.45 | ) | — | 0.11 | |||||||
Deficiency | 6,159 | 22,739 | — | 91,788 | 194,864 | 128,489 | 113,248 |