EX-12 12 cnk-ex12_12.htm EX-12

EXHIBIT 12

CINEMARK HOLDINGS, INC.

CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES

|  | Year Ended
|  | December 31,
|  | 2013 |  |  | 2014 |  |  | 2015 |  |  | 2016 |  |  | 2017
Computation of Earnings: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pretax income from continuing operations before equity income |  | $ | 241,182 |  |  | $ | 267,320 |  |  | $ | 319,541 |  |  | $ | 328,684 |  | $ | 309,392
Add: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed charges |  |  | 215,488 |  |  |  | 207,100 |  |  |  | 207,914 |  |  |  | 204,523 |  |  | 203,789
Amortization of capitalized interest |  |  | 496 |  |  |  | 496 |  |  |  | 496 |  |  |  | 496 |  |  | 496
Distributed income of equity investees |  |  | 22,682 |  |  |  | 22,743 |  |  |  | 28,126 |  |  |  | 31,962 |  |  | 35,985
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capitalized interest |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  | —
TOTAL EARNINGS |  | $ | 479,848 |  |  | $ | 497,659 |  |  | $ | 556,077 |  |  | $ | 565,665 |  | $ | 549,662
Computation of Fixed Charges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  | $ | 119,237 |  |  | $ | 108,453 |  |  | $ | 107,590 |  |  | $ | 102,821 |  |  | 99,721
Capitalized interest |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  | —
Amortization of debt issue costs |  |  | 5,476 |  |  |  | 5,245 |  |  |  | 5,151 |  |  |  | 5,492 |  |  | 97,871
Interest factor on rent expense |  |  | 90,775 |  |  |  | 93,402 |  |  |  | 95,173 |  |  |  | 96,210 |  |  | 203,789
TOTAL FIXED CHARGES |  | $ | 215,488 |  |  | $ | 207,100 |  |  | $ | 207,914 |  |  | $ | 204,523 |  | $ | 203,789
RATIO OF EARNINGS TO FIXED CHARGES (1) |  | 2.23x |  |  | 2.40x |  |  | 2.67x |  |  | 2.77x |  |  | 2.70x

(1) | For the purposes of calculating the ratio of earnings to fixed charges, earnings consist of income from continuing operations before taxes plus fixed charges excluding capitalized interest. Fixed charges consist of interest expense, capitalized interest, amortization of debt issue costs and that portion of rental expense which we believe to be representative of the interest factor.