Exhibit 12.1
FelCor Lodging Limited Partnership
Computation of Ratio of Earnings To Fixed Charges
|
| | | | | | | | | | | | | | |
| | 2012 | | 2011 | | 2010 | | 2009 | | 2008 |
| | | | | | | | | | |
| Income (loss) from continuing operations | (188,342 | ) | | (133,522 | ) | | (111,755 | ) | | (89,487 | ) | | (47,225 | ) |
| Equity in income of unconsolidated entities | (2,779 | ) | | 2,068 |
| | (16,916 | ) | | 4,814 |
| | 10,931 |
|
| Pre-tax income (loss) from continuing operations before adjustment for income or loss from equity investees | (191,121 | ) | | (131,454 | ) | | (128,671 | ) | | (84,673 | ) | | (36,294 | ) |
| | | | | | | | | | |
| Fixed charges: | | | | | | | | | |
| Interest expense | 125,484 |
| | 130,658 |
| | 132,331 |
| | 92,275 |
| | 83,271 |
|
| Capitalized interest | 12,930 |
| | 2,206 |
| | 638 |
| | 767 |
| | 1,350 |
|
| The sum of interest expensed and capitalized, amortized premiums, discounts and capitalized expenses related to indebtedness | 138,414 |
| | 132,864 |
| | 132,969 |
| | 93,042 |
| | 84,621 |
|
| | | | | | | | | | |
| Amortization of capitalized interest | 1,804 |
| | 1,778 |
| | 1,736 |
| | 1,735 |
| | 1,831 |
|
| | | | | | | | | | |
| Distributed income of equity investees | 4,160 |
| | 2,261 |
| | 2,190 |
| | 2,789 |
| | 2,973 |
|
| | | | | | | | | | |
| Interest capitalized | (12,930 | ) | | (2,206 | ) | | (638 | ) | | (767 | ) | | (1,350 | ) |
| | | | | | | | | | |
| Earnings | (59,673 | ) | | 3,243 |
| | 7,586 |
| | 12,126 |
| | 51,781 |
|
| | | | | | | | | | |
| Fixed charges | 138,414 |
| | 132,864 |
| | 132,969 |
| | 93,042 |
| | 84,621 |
|
| | | | | | | | | | |
| Ratio of Earnings to Fixed Charges | (0.43 | ) | | 0.02 |
| | 0.06 |
| | 0.13 |
| | 0.61 |
|
| | | | | | | | | | |
| Deficiency | 198,087 |
| | 129,621 |
| | 125,383 |
| | 80,916 |
| | 32,840 |
|
| | | | | | | | | | |
