EXHIBIT 12.1
LIONS GATE ENTERTAINMENT CORP.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
FIVE YEARS ENDED MARCH 31, 2004
(AMOUNTS IN THOUSANDS, EXCEPT RATIOS AND WHERE NOTED)
FISCAL YEAR ENDED MARCH 31,
2004 2003 2002 2001 2000
--------- ------- -------- ------- -------
$ $ $ $ $
EARNINGS:
Income (loss) before income taxes,
excluding equity interests in
unconsolidated subsidiaries,
gain on dilution of investment
in a subsidiary and minority
interests in consolidated
subsidiaries (105,757) 3,082 (14,064) 10,739 2,549
Interest capitalized (1,700) (1,000) (2,900) (1,500) (2,447)
Fixed charges 18,625 12,072 13,901 10,281 6,399
-------- ------ ------- ------ ------
TOTAL EARNINGS (88,832) 14,154 (3,063) 19,520 6,501
======== ====== ====== ====== =====
FIXED CHARGES:
Interest expense, amortization of
deferred financing costs and
accretion on subordinated notes 16,058 10,339 10,128 8,116 3,522
Estimate of interest within rent
expense 867 733 873 665 430
Interest capitalized 1,700 1,000 2,900 1,500 2,447
-------- ------ ------- ------ ------
TOTAL FIXED CHARGES 18,625 12,072 13,901 10,281 6,399
======== ====== ====== ====== =====
RATIO OF EARNINGS TO FIXED CHARGES -(1) 1.17 -(2) 1.90 1.02
======== ====== ====== ====== =====
- ----------
(1) Earnings were insufficient to cover fixed charges by $107,457.
(2) Earnings were insufficient to cover fixed charges by $16,964.