Exhibit 12.1
ALLBRITTON COMMUNICATIONS COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
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| | Fiscal Year Ended September 30, | | | As Adjusted Fiscal Year Ended September 30, 2009 (b) | | | Six Months Ended March 31, | | As Adjusted Six Months Ended March 31, 2010 (b) |
| | 2005 | | 2006 | | 2007 | | 2008 | | 2009 | | | | 2009 | | | 2010 | |
Pretax income from continuing operations | | $ | 22,855 | | $ | 49,298 | | $ | 41,641 | | $ | 23,974 | | $ | (6,484 | ) | | $ | (8,101 | ) | | $ | (19,479 | ) | | $ | 22,766 | | $ | 21,971 |
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Fixed charges: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Interest expense and amortization of debt discount | | | 36,694 | | | 36,228 | | | 37,213 | | | 37,631 | | | 37,180 | | | | 38,360 | | | | 18,564 | | | | 18,401 | | | 18,978 |
Amortization of deferred financing costs | | | 1,276 | | | 1,041 | | | 1,042 | | | 1,041 | | | 1,148 | | | | 1,585 | | | | 567 | | | | 580 | | | 798 |
Portion of rental expense representative of interest | | | 1,367 | | | 1,400 | | | 1,500 | | | 1,500 | | | 1,533 | | | | 1,533 | | | | 775 | | | | 695 | | | 695 |
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Total fixed charges | | | 39,337 | | | 38,669 | | | 39,755 | | | 40,172 | | | 39,861 | | | | 41,478 | | | | 19,906 | | | | 19,676 | | | 20,471 |
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Adjusted earnings | | $ | 62,192 | | $ | 87,967 | | $ | 81,396 | | $ | 64,146 | | $ | 33,377 | | | $ | 33,377 | | | $ | 427 | | | $ | 42,442 | | $ | 42,442 |
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Ratio of earnings to fixed charges | | | 1.58 | | | 2.27 | | | 2.05 | | | 1.60 | | | (a | ) | | | (a | ) | | | (a | ) | | | 2.16 | | | 2.07 |
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(a) | The Company recorded a loss from continuing operations during Fiscal 2009, primarily due to the $30,700 impairment to intangible assets. This loss resulted in earnings being inadequate to cover fixed charges for the year ended September 30, 2009 and the six months ended March 31, 2009. Additional earnings of $6,484 and $19,479 would have been required to attain a ratio of one-to-one during the year ended September 30, 2009 and the six months ended March 31, 2009, respectively. On an as adjusted basis for the year ended September 30, 2009, additional earnings of $8,101 would have been required to attain a one-to-one ratio. |
(b) | The as adjusted ratio of earnings to fixed charges for the fiscal year ended September 30, 2009 and for the six months ended March 31, 2010 gives effect to the issuance of the initial notes and the use of the net proceeds thereof, together with borrowings under our Senior Credit Facility, to purchase and redeem our 2012 Notes, as if each had occurred on October 1, 2008. |
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