Airtran 2009 Annual Report Download - page 123
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Exhibit 12.1
AIRTRAN HOLDINGS, INC.
EXHIBIT 12.1 – STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED
CHARGES (dollars in thousands)
Year Ended December 31,
2004 2005 2006 2007
2008 2009
Income (loss) before taxes and cumulative effect of
change in accounting principle $18,023 $15,007 $24,307 $83,948 $(300,750) $ 135,339
Add: Total fixed charges (per below) 140,843 171,483 213,146 242,893 242,071 233,717
Less: Interest capitalized during the period (10,768)(16,107)(18,651)(13,710)(7,707)(1,692)
Earnings $ 148,098 $ 170,383 $ 218,802 $ 313,131 $ (66,386) $ 367,364
Interest (including amortization of debt discount) $28,425 $35,518 $56,352 $81,904 $85,479 $83,967
Interest portion of rent expense 112,418 135,965 156,794 160,989 156,592 149,750
Fixed charges $140,843 $171,483 $213,146 $242,893 $242,071 $233,717
Ratio of earnings to fixed charges 1.1 1.0 1.0 1.3 * 1.6
(*) For the year ended December 31, 2008, our earnings were insufficient to cover our fixed charges by $308.5 million.