Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - Red Lion Hotels CORP | rlhex32210qq12018.htm |
| EX-32.1 - EXHIBIT 32.1 - Red Lion Hotels CORP | rlhex32110qq12018.htm |
| EX-31.2 - EXHIBIT 31.2 - Red Lion Hotels CORP | rlhex31210qq12018.htm |
| EX-31.1 - EXHIBIT 31.1 - Red Lion Hotels CORP | rlhex31110qq12018.htm |
| 10-Q - 10-Q - Red Lion Hotels CORP | rlhq1201810q.htm |
Exhibit 12.1
Statement of Computation of Ratios | |||||||||||||||||||
Year Ended December 31, | Year to Date | ||||||||||||||||||
2013 | 2014 | 2015 | 2016 | 2017 | March 31, 2018 | ||||||||||||||
(dollars in thousands) | |||||||||||||||||||
Fixed charges: | |||||||||||||||||||
Interest expense | $ | 5,416 | $ | 4,450 | $ | 6,044 | $ | 5,586 | $ | 7,065 | $ | 1,655 | |||||||
Amortization of debt discount and related expenses | 295 | 125 | 935 | 1,166 | 1,187 | 592 | |||||||||||||
Estimate of interest within rental expense | 1,717 | 1,968 | 2,450 | 1,885 | 2,104 | 498 | |||||||||||||
Total fixed charges | $ | 7,428 | $ | 6,543 | $ | 9,429 | $ | 8,637 | $ | 10,356 | $ | 2,745 | |||||||
Earnings available for fixed charges: | |||||||||||||||||||
Income(loss) from continuing operations before taxes | $ | (15,721 | ) | $ | 562 | $ | 3,425 | $ | (6,729 | ) | $ | (6,331 | ) | $ | 7,473 | ||||
Add: Fixed charges | 7,428 | 6,543 | 9,429 | 8,637 | 10,356 | 2,745 | |||||||||||||
Add: Amortization of capitalized interest | — | — | — | 15 | 20 | 5 | |||||||||||||
Add: Distributed income of equity investees | — | — | — | — | — | — | |||||||||||||
Less: Capitalized interest | — | — | (315 | ) | (362 | ) | — | — | |||||||||||
Total earnings available for fixed charges | $ | (8,293 | ) | $ | 7,105 | $ | 12,539 | $ | 1,561 | $ | 4,045 | $ | 10,223 | ||||||
Ratio of earnings to fixed charges(1)(2) | N/A | 1.09 | 1.33 | N/A | N/A | 3.72 | |||||||||||||
Deficit of earnings to fixed charges(2) | $ | 15,721 | N/A | N/A | $ | 7,076 | $ | 6,311 | N/A | ||||||||||
(1) For purposes of computing the ratio of earnings to fixed charges, earnings consist of income from continuing operations before income taxes plus equity in investments and less net income attributable to non-controlling interests. Fixed charges consist of interest, amortization of debt fees and that portion of rent deemed representative of interest. We have not included a ratio of earnings to combined fixed charges and preferred stock dividends because we do not have any preferred stock outstanding. | |||||||||||||||||||
(2) In 2013, 2016 and 2017, we incurred losses from operations or our earnings were insufficient to cover our fixed charges. As a result, the ratio of earnings to fixed charges is not calculated for these periods as the ratio would be less than 1:1. | |||||||||||||||||||