Attached files
| file | filename |
|---|---|
| EX-31.2 - EXHIBIT 31.2 - MOHEGAN TRIBAL GAMING AUTHORITY | a2017930ex312.htm |
| 10-K - FORM 10-K - MOHEGAN TRIBAL GAMING AUTHORITY | a2017930-10k.htm |
| EX-32.2 - EXHIBIT 32.2 - MOHEGAN TRIBAL GAMING AUTHORITY | a2017930ex322.htm |
| EX-32.1 - EXHIBIT 32.1 - MOHEGAN TRIBAL GAMING AUTHORITY | a2017930ex321.htm |
| EX-31.1 - EXHIBIT 31.1 - MOHEGAN TRIBAL GAMING AUTHORITY | a2017930ex311.htm |
| EX-10.23 - EXHIBIT 10.23 - MOHEGAN TRIBAL GAMING AUTHORITY | a2017930ex1023.htm |
| EX-10.22 - EXHIBIT 10.22 - MOHEGAN TRIBAL GAMING AUTHORITY | a2017930ex1022.htm |
| EX-4.2 - EXHIBIT 4.2 - MOHEGAN TRIBAL GAMING AUTHORITY | a2017930ex42.htm |
Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
For the Fiscal Years Ended September 30, | |||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||
(in thousands, except ratios) | |||||||||||||||||||
Net income (loss) | $ | 76,417 | $ | 133,077 | $ | 92,139 | $ | (24,558 | ) | $ | 47,542 | ||||||||
Fixed charges | 120,178 | 137,076 | 145,022 | 152,017 | 178,196 | ||||||||||||||
Amortization of capitalized interest | 2,243 | 2,301 | 2,302 | 2,203 | 2,204 | ||||||||||||||
Capitalized interest | (189 | ) | — | — | (735 | ) | (1,976 | ) | |||||||||||
(Income) loss attributable to non-controlling interests | (972 | ) | (427 | ) | 2,255 | 380 | 2,784 | ||||||||||||
Earnings | $ | 197,677 | $ | 272,027 | $ | 241,718 | $ | 129,307 | 228,750 | ||||||||||
Interest expense, net of capitalized interest and amortization of debt issuance costs, premiums and discounts | $ | 107,127 | $ | 126,174 | $ | 136,105 | $ | 139,896 | $ | 157,865 | |||||||||
Capitalized interest | 189 | — | — | 735 | 1,976 | ||||||||||||||
Amortization of debt issuance costs, premiums and discounts | 7,192 | 10,020 | 7,771 | 8,037 | 12,285 | ||||||||||||||
Interest portion of rental expense (1) | 1,830 | 882 | 919 | 1,144 | 1,096 | ||||||||||||||
Accretion of discounts to the redemption and relinquishment liabilities | 3,840 | — | 227 | 2,205 | 4,974 | ||||||||||||||
Fixed charges | $ | 120,178 | $ | 137,076 | $ | 145,022 | $ | 152,017 | $ | 178,196 | |||||||||
Ratio of earnings to fixed charges (2) (3) | 1.64 | 1.98 | 1.67 | 0.85 | 1.28 | ||||||||||||||
(1) | A 10% factor was utilized to calculate the interest portion of rental expense, which MGE believes to be a reasonable approximation. |
(2) | Pursuant to Item 503 of Regulation S-K. |
(3) | Earnings for the fiscal year ended September 30, 2014 were inadequate to cover fixed charges. The coverage deficiency was approximately $23.0 million. |