1
EXHIBIT 12
CINEMARK USA,INC. AND SUBSIDIARIES
$75M SERIES C 9 5/8% SENIOR SUB NOTES, DUE 2008
COMPUTATION OF EARNINGS TO FIXED CHARGES
PRO FORMA PRO FORMA PRO FORMA
12 MOS ENDED 9 MOS ENDED 12 MOS. ENDED 9 MOS. ENDED 12 MOS ENDED
SEPT 30, 1997 SEPT 30, 1997 SEPT 30, 1997 SEPT 30, 1997 SEPT 31, 1996
- ------------------------------------------ ------------- -------------- -------------- -------------- --------------
COMPUTATION OF EARNINGS
REGISTRANT'S PRETAX INCOME FROM
CONTINUING OPERATIONS 31,928,123 22,739,526 31,928,123 22,739,528 28,962,461
CAPITALIZED INTEREST (2,456,047) (1,268,643) (2,458,047) (1,256,643) (3,865,248)
---------- ---------- ---------- ---------- ----------
TOTAL EARNINGS 29,472,076 21,482,885 29,472,076 21,482,885 23,097,215
COMPUTATION 0F FIXED CHARGES
INTEREST EXPENSE 30,782,889 24,754,456 28,412,265 23,071,697 24,552,655
CAPITALIZED INTEREST 2,592,914 1,377,706 2,592,914 1,377,708 3,928,454
AMORTIZATION OF DEBT ISSUE COST & DEBT
DISCOUNT 853,920 583,362 853,920 583,362 824,743
AMORTIZATION OF NEW DEBT DISCOUNT
AMORTIZATION OF DEBT PREMIUM (95,455) (71,591) 0 (95,455)
INTEREST FACTOR ON RENT EXPENSE 12,426,051 9,434,211 12,425,051 9,434,211 8,477,842
---------- ---------- ---------- ---------- ----------
TOTAL FIXED CHARGES 46,659,320 36,078,146 44,384,140 34,467,176 37,688,239
TOTAL EARNINGS AND FIXED CHARGES 76,031,395 57,561,031 73,856,216 55,950,063 60,785,454
---------- ---------- ---------- ---------- ----------
RATIO OF EARNINGS TO FIXED CHARGES 1.63 1.60 1.66 1.62 1.61
========== ========== ========== ========== ==========
9 MOS. ENDED 12 MOS. ENDED 12 MOS. ENDED 12 MOS. ENDED 12 MOS. ENDED
SEPT 30, 1996 DEC 31, 1996 DEC 31, 1995 DEC 31, 1994 DEC 31, 1993
- ------------------------------------- -------------- ------------- ------------- ------------- -------------
COMPUTATION OF EARNINGS
REGISTRANT'S PRETAX INCOME FROM
CONTINUING OPERATIONS 17,773,866 26,962,461 23,256,537 14,073,947 15,890,531
CAPITALIZED INTEREST (2,665,842) (3,865,246) (1,726,155) (560,185) 5,425
---------- ---------- ---------- ---------- ----------
TOTAL EARNINGS 15,108,024 23,097,215 21,530,382 13,513,762 15,895,956
COMPUTATION 0F FIXED CHARGES
INTEREST EXPENSE 14,111,297 19,551,655 18,549,833 18,133,438 16,573,409
CAPITALIZED INTEREST 2,713,248 3,928,454 1,745,720 565,610
AMORTIZATION OF DEBT ISSUE COST & DEBT
DISCOUNT 554,185 824,743 824,014 783,515 528,724
AMORTIZATION OF NEW DEBT DISCOUNT
AMORTIZATION OF DEBT PREMIUM
INTEREST FACTOR ON RENT EXPENSE 8,477,842 11,468,682 10,291,069 9,866,567 9,089,838
---------- ---------- ---------- ---------- ----------
TOTAL FIXED CHARGES 25,858,572 35,773,534 31,410,636 29,349,130 26,191,971
TOTAL EARNINGS AND FIXED CHARGES 40,964,596 58,870,749 52,941,018 42,862,892 42,087,927
---------- ---------- ---------- ---------- ----------
RATIO OF EARNINGS TO FIXED CHARGES 1.58 1.65 1.69 1.46 1.61
========== ========== ========== ========== ==========
12 MOS. ENDED
DEC 31, 1992
- ------------------------------------- -------------
COMPUTATION OF EARNINGS
REGISTRANT'S PRETAX INCOME FROM
CONTINUING OPERATIONS 8,700,634
CAPITALIZED INTEREST 5,425
----------
TOTAL EARNINGS 8,706,059
COMPUTATION 0F FIXED CHARGES
INTEREST EXPENSE 11,888,863
CAPITALIZED INTEREST
AMORTIZATION OF DEBT ISSUE COST & DEBT 369,140
DISCOUNT
AMORTIZATION OF DEBT PREMIUM
INTEREST FACTOR ON RENT EXPENSE 7,922,237
----------
TOTAL FIXED CHARGES 20,180,240
TOTAL EARNINGS AND FIXED CHARGES 28,886,299
----------
RATIO OF EARNINGS TO FIXED CHARGES 1.43
==========