EXHIBIT 12
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RATIO OF EARNINGS TO FIXED CHARGES
(In Thousands)
RATIO EARNINGS TO FIXED CHARGES CALCULATION:
Trump AC and Plaza Associates
------------------------------------------------------------ (Pro Forma)
-----------
Year Ended December 31, Year Ended
------------------------------------------------------------ December 31,
EARNINGS: 1991 1992 1993 1994 1995 1995
-------- -------- -------- -------- --------- -----------
INCOME (LOSS) before income taxes
and extraordinary items (32,094) 2,185 5,878 (9,735) 10,783 29,884
PLUS:
FIXED CHARGES 38,135 40,191 48,198 50,265 45,467 133,632
LESS:
CAPITALIZED INTEREST 0 0 0 0 0 0
-------- -------- -------- -------- --------- ---------
EARNINGS 6,041 42,376 54,076 40,530 56,250 163,516
-------- -------- -------- -------- --------- ---------
FIXED CHARGES:
INTEREST EXPENSE 34,395 31,843 40,435 49,061 44,264 129,360
PLUS:
CAPITALIZED INTEREST 0 0 0 0 0 0
PREFERRED PARTNERSHIP DIST. 0 6,894 6,317 0 0 1,554
INTEREST ELEMENT OF RENTAL EXPENSE 3,740 1,454 1,446 1,204 1,203 2,718
-------- -------- -------- -------- --------- ---------
FIXED CHARGES 38,135 40,191 48,198 50,265 45,467 133,632
-------- -------- -------- -------- --------- ---------
RATIO OF EARNINGS TO FIXED
CHARGES (DEFICIENCY) (32,094) 1.1 1.1 (9,735) 1.2 1.2
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EXHIBIT 12
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RATIO OF EARNINGS TO FIXED CHARGES
(In Thousands)
RATIO EARNINGS TO FIXED CHARGES CALCULATION:
Taj Associates
------------------------------------------------------------
Year Ended December 31,
------------------------------------------------------------
EARNINGS: 1991 1992 1993 1994 1995
-------- -------- -------- -------- ---------
INCOME (LOSS) before income taxes
and extraordinary items (71,105) (35,099) (22,539) (36,658) (26,623)
PLUS:
FIXED CHARGES 86,111 107,521 111,619 119,158 123,504
LESS:
CAPITALIZED INTEREST 0 0 0 0 0
-------- -------- -------- -------- ---------
EARNINGS 15,006 72,422 89,080 82,500 96,881
-------- -------- -------- -------- ---------
FIXED CHARGES:
INTEREST EXPENSE 84,918 104,049 108,379 115,311 120,435
PLUS:
CAPITALIZED INTEREST 0 0 0 0 0
PREFERRED PARTNERSHIP DIST. 0 1,825 1,733 2,171 1,554
INTEREST ELEMENT OF RENTAL EXPENSE 1,193 1,647 1,507 1,676 1,515
-------- -------- -------- -------- ---------
FIXED CHARGES 86,111 107,521 111,619 119,158 123,504
-------- -------- -------- -------- ---------
RATIO OF EARNINGS TO FIXED
CHARGES (DEFICIENCY) (71,105) (35,099) (22,539) (36,658) (26,623)
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