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Alaska Airlines, Inc.
Computation of Ratio of Earnings to Fixed Charges
(In thousands, except ratios)
| Three Months Ended March 31, | Year Ended December 31, | ||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2001 | 2000 | 2000 | 1999 | 1998 | 1997 | 1996 | |||||||||||||||
Earnings: | ||||||||||||||||||||||
Income (loss) before income tax and accounting change | $ | (33,700 | ) | $ | (13,700 | ) | $ | (8,200 | ) | $ | 196,400 | $ | 190,500 | $ | 127,400 | $ | 74,500 | |||||
Less: Capitalized interest | (2,600 | ) | (2,600 | ) | (12,400 | ) | (8,300 | ) | (5,100 | ) | (3,400 | ) | (600 | ) | ||||||||
Add: | ||||||||||||||||||||||
Interest on indebtedness | 12,100 | 7,900 | 36,000 | 16,300 | 17,400 | 25,000 | 29,700 | |||||||||||||||
Amortization of debt expense | 175 | 65 | 322 | 429 | 512 | 267 | 414 | |||||||||||||||
Portion of rent under long-term operating leases representative of an interest factor | 15,900 | 15,298 | 62,699 | 64,184 | 64,538 | 59,253 | 57,766 | |||||||||||||||
Earnings Available for Fixed Charges | $ | (8,125 | ) | $ | 6,963 | $ | 78,421 | $ | 269,013 | $ | 267,850 | $ | 208,520 | $ | 161,780 | |||||||
Fixed Charges: | ||||||||||||||||||||||
Interest | 12,100 | 7,900 | 36,000 | 16,300 | 17,400 | 25,000 | 29,700 | |||||||||||||||
Amortization of debt expense | 175 | 65 | 322 | 429 | 512 | 267 | 414 | |||||||||||||||
Portion of rent under long-term operating leases representative of an interest factor | 15,900 | 15,298 | 62,699 | 64,184 | 64,538 | 59,253 | 57,766 | |||||||||||||||
Total Fixed Charges | $ | 28,175 | $ | 23,263 | $ | 99,021 | $ | 80,913 | $ | 82,450 | $ | 84,520 | $ | 87,880 | ||||||||
Ratio of Earnings to Fixed Charges | (0.29 | ) | 0.30 | 0.79 | 3.32 | 3.25 | 2.47 | 1.84 | ||||||||||||||
Coverage deficiency | $ | 36,300 | $ | 16,300 | $ | 20,600 | — | — | — | — | ||||||||||||
Alaska Airlines, Inc. Computation of Ratio of Earnings to Fixed Charges (In thousands, except ratios)