Exhibit 12.1
Live Nation Entertainment, Inc.
Computation of Ratio of Earnings to Fixed Charges
| Year Ended December 31, |
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| 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
| (in thousands, except ratio) | ||||||||||||||||||||
| Income (loss) before income taxes |
$ | (188,654 | ) | $ | (114,678 | ) | $ | (357,735 | ) | $ | (53,581 | ) | $ | (31,286 | ) | |||||
| Equity in earnings (loss) of nonconsolidated affiliates |
4,928 | 1,851 | 842 | (7,737 | ) | (1,330 | ) | |||||||||||||
| Income (loss) before income taxes, equity in earnings of nonconsolidated affiliates, and cumulative effect of a change in accounting principle |
(193,582 | ) | (116,529 | ) | (358,577 | ) | (45,844 | ) | (29,956 | ) | ||||||||||
| Dividends and other received from nonconsolidated affiliates |
— | — | — | — | — | |||||||||||||||
| Total earnings |
(193,582 | ) | (116,529 | ) | (358,577 | ) | (45,844 | ) | (29,956 | ) | ||||||||||
| Fixed charges: |
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| Interest expense |
116,527 | 66,365 | 70,104 | 64,297 | 36,790 | |||||||||||||||
| Amortization of loan fees * |
— | — | — | — | — | |||||||||||||||
| Interest portion of rentals |
44,806 | 35,583 | 35,048 | 31,393 | 22,926 | |||||||||||||||
| Total fixed charges |
161,333 | 101,948 | 105,152 | 95,690 | 59,716 | |||||||||||||||
| Preferred stock dividends |
— | — | — | — | — | |||||||||||||||
| Total fixed charges |
161,333 | 101,948 | 105,152 | 95,690 | 59,716 | |||||||||||||||
| Total earnings available for payment of fixed charges |
$ | (32,249 | ) | $ | (14,581 | ) | $ | (253,425 | ) | $ | 49,846 | $ | 29,760 | |||||||
| Ratio of earnings to fixed charges |
(0.20 | ) | (0.14 | ) | (2.41 | ) | 0.52 | 0.50 | ||||||||||||
| Deficiency of earnings to fixed charges |
(193,582 | ) | (116,529 | ) | (358,577 | ) | (45,844 | ) | (29,956 | ) | ||||||||||
| Interest portion of rentals |
35 | % | 35 | % | 35 | % | 35 | % | 35 | % | ||||||||||
| * | Amortization of loan fees is included in interest expense. |