EXHIBIT 12
CINEMARK USA, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS TO FIXED CHARGES
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YEARS ENDED DECEMBER 31,
1999 2000 2001
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COMPUTATION OF EARNINGS:
REGISTRANT'S PRETAX INCOME (LOSS) FROM
CONTINUING OPERATIONS $ 7,711,789 $ (10,171,364) $ (18,135,897)
CAPITALIZED INTEREST (3,987,319) (180,622) 217,288
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TOTAL EARNINGS (LOSS) $ 3,724,470 $ (10,351,986) $ (17,918,609)
COMPUTATION OF FIXED CHARGES:
INTEREST EXPENSE $ 58,836,739 $ 72,977,272 $ 68,368,292
CAPITALIZED INTEREST 4,312,499 613,614 215,704
AMORTIZATION OF DEBT ISSUE COST & DEBT DISCOUNT 1,030,339 1,059,949 2,562,328
INTEREST FACTOR ON RENT EXPENSE 29,936,114 36,162,868 38,245,508
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TOTAL FIXED CHARGES $ 94,115,691 $ 110,813,703 $ 109,391,832
TOTAL EARNINGS AND FIXED CHARGES $ 97,840,161 $ 100,461,717 $ 91,473,223
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RATIO OF EARNINGS TO FIXED CHARGES 1.04 -- --
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INSUFFICIENT EARNINGS TO COVER FIXED CHARGES -- $ 10,351,986 $ 17,918,609
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