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EXHIBIT 12
Cinemark Usa, Inc. and Subsidiaries
Computation of Earnings to Fixed Charges
Pro Forma TTM Pro Forma June June Pro Forma
TTM 6/1996 June 1996 June 1996 1996 1995 1995
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Computation of Earnings:
Registrant's Pretax Income from
Continuing Operations 30,010,560 30,990,864 12,099,016 12,589,168 4,854,841 22,276,232
Capitalized Interest (3,073,226) (3,073,226) (1,337,289) (1,337,289) 9,783 (1,726,155)
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TOTAL EARNINGS 26,937,333 27,917,638 10,761,727 11,251,879 4,864,624 20,550,078
Computation of Fixed Charges:
Interest Expense 18,898,645 17,995,545 9,803,337 9,351,787 9,906,075 19,452,933
Capitalized Interest 1,368,893 3,114,613 1,368,893 1,368,893 0 1,745,720
Amortization of Debt Issue Cost 906,676 829,472 453,426 414,824 409,366 901,218
Interest Factor in Rental Expense (1/3 Rent 10,513,982 10,513,982 5,314,577 5,314,577 5,091,664 10,291,069
Expense) ---------- ---------- ---------- ---------- ---------- ----------
TOTAL FIXED CHARGES 31,688,197 32,453,612 16,940,233 16,450,081 15,407,105 32,390,941
TOTAL EARNINGS AND FIXED CHARGES 58,625,530 60,371,250 27,701,960 27,701,960 20,271,729 52,941,018
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Ratio of Earnings to Fixed Charges 1.85 1.86 1.64 1.68 1.32 1.63
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Insufficient Earnings to Cover Fixed Charges
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Computation of Earnings to Fixed Charges
December December December December December
1995 1994 1993 1992 1991
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Computation of Earnings:
Registrant's Pretax Income from
Continuing Operations 23,256,537 14,073,947 15,890,531 8,700,634 6,870,335
Capitalized Interest (1,726,155) (560,185) 5,425 5,425 5,425
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TOTAL EARNINGS 21,530,382 13,513,762 15,895,956 8,706,059 6,875,760
Computation of Fixed Charges:
Interest Expense 18,549,833 18,133,438 16,573,409 11,888,863 6,988,313
Capitalized Interest 1,745,720 565,610
Amortization of Debt Issue Cost 824,014 783,515 528,724 369,140 664,849
Interest Factor in Rental Expense (1/3 Rent 10,291,069 9,866,567 9,089,838 7,922,237 7,144,915
Expense) ---------- ---------- ---------- ---------- ----------
TOTAL FIXED CHARGES 31,410,636 29,349,130 26,191,971 20,180,240 14,798,077
TOTAL EARNINGS AND FIXED CHARGES 52,941,018 42,862,892 42,087,927 28,886,299 21,673,837
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Ratio of Earnings to Fixed Charges 1.69 1.46 1.61 1.43 1.46
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Insufficient Earnings to Cover Fixed Charges
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