Live Nation Entertainment, Inc. | |||||||||||||||||||
Computation of Ratio of Earnings to Fixed Charges | |||||||||||||||||||
(in thousands, except ratio) | |||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||
(in thousands, except ratio) | |||||||||||||||||||
Loss from continuing operations before income taxes | $ | (99,820 | ) | $ | (5,137 | ) | $ | (132,161 | ) | $ | (96,627 | ) | $ | (188,654 | ) | ||||
Equity in earnings (loss) of nonconsolidated affiliates | 4,166 | 856 | 9,921 | 7,742 | 4,928 | ||||||||||||||
Loss before income taxes, equity in earnings of nonconsolidated affiliates and cumulative effect of a change in accounting principle | (95,654 | ) | (5,993 | ) | (142,082 | ) | (104,369 | ) | (193,582 | ) | |||||||||
Dividends and other received from nonconsolidated affiliates | — | — | — | — | — | ||||||||||||||
Total earnings | (95,654 | ) | (5,993 | ) | (142,082 | ) | (104,369 | ) | (193,582 | ) | |||||||||
Fixed charges: | |||||||||||||||||||
Interest expense | 106,312 | 111,659 | 123,740 | 120,414 | 116,527 | ||||||||||||||
Amortization of loan fees * | — | — | — | — | — | ||||||||||||||
Interest portion of rentals | 54,495 | 56,921 | 50,825 | 45,046 | 44,806 | ||||||||||||||
Total fixed charges | 160,807 | 168,580 | 174,565 | 165,460 | 161,333 | ||||||||||||||
Preferred stock dividends | — | — | — | — | — | ||||||||||||||
Total fixed charges | 160,807 | 168,580 | 174,565 | 165,460 | 161,333 | ||||||||||||||
Total earnings available for payment of fixed charges | $ | 65,153 | $ | 162,587 | $ | 32,483 | $ | 61,091 | $ | (32,249 | ) | ||||||||
Ratio of earnings to fixed charges | 0.41 | 0.96 | 0.19 | 0.37 | (0.20 | ) | |||||||||||||
Deficiency of earnings to fixed charges | (95,654 | ) | (5,993 | ) | (142,082 | ) | (104,369 | ) | (193,582 | ) | |||||||||
Interest portion of rentals | 35 | % | 35 | % | 35 | % | 35 | % | 35 | % | |||||||||
* | Amortization of loan fees is included in interest expense |