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MGM RESORTS INTERNATIONAL
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except ratio data)
| Years Ended December 31, | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||
| (In thousands) | |||||||||||||||
Earnings: | ||||||||||||||||
Income (loss) from continuing operations before income taxes and (income) loss from unconsolidated affiliates | $ | (1,597,155 | ) | $ | 2,859,550 | $ | (2,025,366 | ) | $ | (1,824,415 | ) | $ | (709,740 | ) | ||
Fixed charges (see below) | 1,117,327 | 1,086,865 | 1,113,580 | 1,028,673 | 795,049 | |||||||||||
Distributed income from unconsolidated affiliates | 23,000 | 63,013 | 227,764 | 93,886 | 70,546 | |||||||||||
(456,828 | ) | 4,009,428 | (684,022 | ) | (701,856 | ) | 155,855 | |||||||||
Capitalized interest | (969 | ) | (33 | ) | - | (253,242 | ) | (185,763 | ) | |||||||
(457,797 | ) | 4,009,395 | (684,022 | ) | (955,098 | ) | (29,908 | ) | ||||||||
Fixed charges: | ||||||||||||||||
Interest expense, net (a) | $ | 1,116,358 | $ | 1,086,832 | $ | 1,113,580 | $ | 775,431 | $ | 609,286 | ||||||
Capitalized interest | 969 | 33 | - | 253,242 | 185,763 | |||||||||||
1,117,327 | 1,086,865 | 1,113,580 | 1,028,673 | 795,049 | ||||||||||||
Ratio of earnings to fixed charges | (b | ) | 3.69x | (b | ) | (b | ) | (b | ) | |||||||
Deficiency | $ | 1,575,124 | $ | - | $ | 1,797,602 | $ | 1,983,771 | $ | 824,957 | ||||||
- (a)
- Interest expense does not include the interest factor of rental expense as these amounts are not material.
- (b)
- Earnings were inadequate to cover fixed charges.
MGM RESORTS INTERNATIONAL COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (In thousands, except ratio data)