Exhibit 12.1
Mohegan Tribal Gaming Authority
Ratio of Earnings to Fixed Charges
Quarter Ended
Fiscal Year Ended September 30, December
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2001 2000 1999 1998 1997(1) 2001 2000
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Earnings:
Income from Operations... $190,067 $204,304 $156,546 $135,687 $82,675 $31,427 $43,315
Fixed Charges:
Interest Expense......... 25,060 37,799 55,595 50,172 45,095 14,799 5,925
Capitalized Interest..... 27,408 9,880 534 -- -- 3,229 4,812
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Total Fixed Charges....... 52,468 47,679 56,129 50,172 45,095 18,028 10,737
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Ratio of Earnings to Fixed
Charges................. 3.6x 4.3x 2.8x 2.7x 1.8x 1.7x 4.0x
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(1) The Authority commenced operations on October 12, 1996.