Attached files
| file | filename |
|---|---|
| 10-K - FORM 10-K - LODGENET INTERACTIVE CORP | c63489e10vk.htm |
| EX-21.1 - EX-21.1 - LODGENET INTERACTIVE CORP | c63489exv21w1.htm |
| EX-31.1 - EX-31.1 - LODGENET INTERACTIVE CORP | c63489exv31w1.htm |
| EX-23.1 - EX-23.1 - LODGENET INTERACTIVE CORP | c63489exv23w1.htm |
| EX-31.2 - EX-31.2 - LODGENET INTERACTIVE CORP | c63489exv31w2.htm |
| EX-32.1 - EX-32.1 - LODGENET INTERACTIVE CORP | c63489exv32w1.htm |
Exhibit 12.1
LodgeNet Interactive Corporation and Subsidiaries
Statement Regarding Computation of Ratios (Unaudited)
(Dollar amounts in thousands, except ratios)
Statement Regarding Computation of Ratios (Unaudited)
(Dollar amounts in thousands, except ratios)
Computation of Coverage of Fixed Charges and Preferred Stock Dividends
| 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
Net (loss) income |
$ | (11,685 | ) | $ | (10,155 | ) | $ | (48,418 | ) | $ | (65,172 | ) | $ | 1,841 | ||||||
Add: |
||||||||||||||||||||
Provision (benefit) for income taxes |
834 | 763 | 849 | (683 | ) | 299 | ||||||||||||||
Fixed charges (see below) |
41,235 | 43,435 | 45,215 | 43,531 | 27,470 | |||||||||||||||
Earnings available to cover fixed charges |
$ | 30,384 | $ | 34,043 | $ | (2,354 | ) | $ | (22,324 | ) | $ | 29,610 | ||||||||
Fixed charges (1): |
||||||||||||||||||||
Interest |
$ | 33,537 | $ | 38,092 | $ | 42,551 | $ | 40,950 | $ | 25,730 | ||||||||||
Amortization of debt costs |
1,275 | 1,575 | 1,810 | 1,731 | 1,495 | |||||||||||||||
Interest portion of rentals |
673 | 654 | 854 | 850 | 245 | |||||||||||||||
| 35,485 | 40,321 | 45,215 | 43,531 | 27,470 | ||||||||||||||||
Preferred stock dividends |
5,750 | 3,114 | — | — | — | |||||||||||||||
Total fixed charges and preferred stock dividends |
$ | 41,235 | $ | 43,435 | $ | 45,215 | $ | 43,531 | $ | 27,470 | ||||||||||
(Deficiency) earnings in the coverage of fixed charges |
$ | (5,101 | ) | $ | (6,278 | ) | $ | (47,569 | ) | $ | (65,855 | ) | $ | 2,140 | ||||||
(Deficiency) earnings in the coverage of fixed charges
and preferred stock dividends |
$ | (10,851 | ) | $ | (9,392 | ) | $ | (47,569 | ) | $ | (65,855 | ) | $ | 2,140 | ||||||
Ratio of earnings to fixed charges |
— | — | — | — | 1.08 | |||||||||||||||
Ratio of earnings to fixed charges and preferred
stock dividends |
— | — | — | — | 1.08 | |||||||||||||||
| (1) | Fixed charges consist of interest expensed, amortized premiums, discounts and capitalized expenses related to indebtedness and an estimate of the interest within rental expense. The Company believes that it is reasonable to estimate one-third of rental expense is interest expense. |