1
EXHIBIT 12.1
GREYHOUND LINES, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS EXCEPT RATIO)
YEAR ENDED
DECEMBER 31, 1992
-----------------
Interest Income (Loss) Before Taxes, Discontinued Operations
and Extraordinary Item.................................... $20,091
Interest Expense............................................ 35,297
Portion of Rents Representative of the Interest Factor...... 15,980
-------
Income (Loss) Before Taxes as Adjusted...................... 71,368
-------
Fixed Charges:
Interest Expense.......................................... 35,296
Interest Capitalized...................................... 0
Portion of Rents Representative of the Interest Factor.... 15,980
-------
Fixed Charges............................................. $51,277
-------
Coverage Deficiency......................................... N/A
=======
Ratio of Earnings to Fixed Charges.......................... 1.39
=======
2
EXHIBIT 12.1
GREYHOUND LINES, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS)
YEAR ENDED
DECEMBER 31, 1993
-----------------
Income before income taxes, discontinued operations,
extraordinary items and cumulative effect of a change in
accounting principle...................................... $14,847
Interest expense............................................ 30,832
Portion of rents representative of the interest factor...... 13,598
-------
Income before taxes as adjusted............................. 59,277
-------
Fixed charges:
Interest expense.......................................... 30,832
Interest capitalized...................................... 0
Portion of rents representative of the interest factor.... 13,598
-------
Fixed charges............................................. $44,430
-------
Coverage deficiency......................................... N/A
=======
Ratio of earnings to fixed charges.......................... 1.33
=======
3
EXHIBIT 12.1
GREYHOUND LINES, INC. AND SUBSIDIARIES
COMPUTATION OF COVERAGE DEFICIENCY
(IN THOUSANDS)
TWELVE MONTHS
ENDED
DECEMBER 31, 1994
-----------------
Net Income (Loss) Before Taxes, Discontinued Operation,
Extraordinary Items and Cumulative Effect of a Change in
Accounting Principle...................................... $(98,932)
Interest Expense............................................ 33,456
Portion of Rents Representative of the Interest Factor...... 14,491
--------
Income (Loss) Before Taxes as Adjusted...................... (50,985)
Fixed Charges:
Interest Expense.......................................... 33,456
Interest Capitalized...................................... --
Portion of Rents Representative of the Interest Factor.... 14,491
--------
Fixed Charges............................................. 47,947
--------
Coverage Deficiency......................................... $(98,932)
========
Ratio of Earnings to Fixed Charges.......................... N/A
========
4
EXHIBIT 12.1
GREYHOUND LINES, INC. AND SUBSIDIARIES
COMPUTATION OF COVERAGE DEFICIENCY
(IN THOUSANDS)
YEAR ENDED
DECEMBER 31, 1995
-----------------
Net Income (Loss) Before Taxes, Discontinued Operations,
Extraordinary Items and Cumulative Effect of a Change in
Accounting Principle...................................... $(17,444)
Interest Expense............................................ 26,807
Portion of Rents Representative of the Interest Factor...... 17,344
--------
Income (Loss) Before Taxes as Adjusted...................... 26,707
Fixed Charges:
Interest Expense.......................................... 26,807
Interest Capitalized...................................... --
Portion of Rents Represented of the Interest Factor....... 17,344
--------
Fixed Charges............................................. 44,151
--------
Coverage Deficiency......................................... $(17,444)
========
Ratio of Earnings to Fixed Charges.......................... N/A
========
5
EXHIBIT 12.1
GREYHOUND LINES, INC. AND SUBSIDIARIES
COMPUTATION OF COVERAGE DEFICIENCY
(IN THOUSANDS)
YEAR ENDED
DECEMBER 31, 1996
-----------------
Net Income (Loss) Before Taxes, Discontinued Operations,
Extraordinary Items and Cumulative Effect of a Change in
Accounting Principle...................................... $(6,542)
Interest Expense............................................ 27,346
Portion of Rents Representative of the Interest Factor...... 19,556
-------
Income (Loss) Before Taxes as Adjusted...................... 40,360
Fixed Charges:
Interest Expense.......................................... 27,346
Interest Capitalized...................................... --
Portion of Rents Representative of the Interest Factor.... 19,556
-------
Fixed Charges............................................. 46,902
-------
Coverage Deficiency......................................... $(6,542)
=======
Ratio of Earnings to Fixed Charges.......................... N/A
=======
6
EXHIBIT 12.1
GREYHOUND LINES, INC. AND SUBSIDIARIES
COMPUTATION OF COVERAGE DEFICIENCY
(IN THOUSANDS)
QUARTER ENDED
MARCH 31, 1996
--------------
Net Income (Loss) Before Taxes,
Discontinued Operations, Extraordinary
Items and Cumulative Effect of a
Change in Accounting Principle........ $(21,482)
Interest Expense........................ 6,626
Portion of Rents Representative of the
Interest Factor....................... 4,265
--------
Income (Loss) Before Taxes as
Adjusted.............................. (10,591)
Fixed Charges:
Interest Expense...................... 6,626
Interest Capitalized.................. --
Portion of Rents Representative of the
Interest Factor.................... 4,265
--------
Fixed Charges......................... 10,891
--------
Coverage Deficiency..................... $(21,482)
========
Ratio of Earnings to Fixed Charges...... N/A
========
7
EXHIBIT 12.1
GREYHOUND LINES, INC. AND SUBSIDIARIES
COMPUTATION OF COVERAGE DEFICIENCY
(IN THOUSANDS)
QUARTER ENDED
MARCH 31,
1997
-------------
Net Income (Loss) Before Taxes, Discontinued Operations,
Extraordinary Items and Cumulative Effect of a Change in
Accounting Principle...................................... $(17,089)
Interest Expense............................................ 7,586
Portion of Rents Representative of the Interest Factor...... 5,030
--------
Income (Loss) Before Taxes as Adjusted...................... (4,473)
Fixed Charges:
Interest Expense.......................................... 7,586
Interest Capitalized...................................... --
Portion of Rents Representative of the Interest Factor.... 5,030
--------
Fixed Charges............................................. 12,616
--------
Coverage Deficiency......................................... (17,089)
========
Ratio of Earnings to Fixed Charges.......................... N/A
========