Exhibit 12.1
FelCor Lodging Trust Incorporated/FelCor Lodging Limited Partnership
Computation of Ratio of Earnings To Fixed Charges and Preferred Distributions
2000 | 2001 | 2002 | 2003 | 2004 | ||||||||||||||||
(amounts in thousands, except ratios) | ||||||||||||||||||||
Income (loss) from continuing operations | 41,942 | (51,156 | ) | (61,021 | ) | (180,589 | ) | (111,311 | ) | |||||||||||
Minority interests | 5,758 | (9,304 | ) | (6,041 | ) | (13,912 | ) | (7,928 | ) | |||||||||||
Equity in income of unconsolidated entities | (14,820 | ) | (7,346 | ) | 10,127 | (2,370 | ) | (17,121 | ) | |||||||||||
Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees | 32,880 | (67,806 | ) | (56,935 | ) | (196,871 | ) | (136,360 | ) | |||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense | 158,620 | 159,179 | 164,368 | 167,431 | 152,394 | |||||||||||||||
Capitalized interest | 1,080 | 811 | 775 | 588 | 1,489 | |||||||||||||||
The sum of interest expensed and capitalized, amortized premiums, discounts and capitalized expenses related to indebetedness | 159,700 | 159,990 | 165,143 | 168,019 | 153,883 | |||||||||||||||
Amortization of capitalized interest | 1,200 | 1,269 | 1,225 | 819 | 924 | |||||||||||||||
Distributed income of equity investees | 25,358 | 8,132 | 11,310 | 8,848 | 22,831 | |||||||||||||||
Interest capitalized | (1,080 | ) | (811 | ) | (775 | ) | (588 | ) | (1,489 | ) | ||||||||||
Earnings | 218,058 | 100,774 | 119,968 | (19,773 | ) | 39,789 | ||||||||||||||
Fixed charges | 159,700 | 159,990 | 165,143 | 168,019 | 153,883 | |||||||||||||||
Preferred Distributions | 24,682 | 24,600 | 26,292 | 26,908 | 35,130 | |||||||||||||||
Total Fixed Charges and Preferred Distributions | 184,382 | 184,590 | 191,435 | 194,927 | 189,013 | |||||||||||||||
Ratio of Earnings to Fixed Charges and | 1.2 | 0.5 | 0.6 | (0.1 | ) | 0.2 | ||||||||||||||
Preferred Distributions | ||||||||||||||||||||
Deficiency | 83,816 | 71,467 | 214,700 | 149,224 |