Current Report — Form 8-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 8-K Current Report 6 31K
2: EX-2.2 Plan of Acquisition, Reorganization, Arrangement, 3 11K
Liquidation or Succession
3: EX-2.3 Plan of Acquisition, Reorganization, Arrangement, 35 126K
Liquidation or Succession
4: EX-12.1 Statement re: Computation of Ratios 2± 11K
5: EX-23.1 Consent of Experts or Counsel 1 7K
6: EX-99.1 Miscellaneous Exhibit 41 245K
7: EX-99.2 Miscellaneous Exhibit 14 87K
8: EX-99.3 Miscellaneous Exhibit 8 45K
EX-12.1 — Statement re: Computation of Ratios
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EXHIBIT 12.1
SABRE HOLDINGS CORPORATION
COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES
YEAR ENDED DECEMBER 31, 2000
(IN THOUSANDS)
[Enlarge/Download Table]
Years ended December 31,
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EARNINGS: 2000 1999 1998 1997(2) 1996(2)
------------ ------------ ------------ --------------- ---------------
Income from continuing operations
before taxes (2) $ 189,588 $ 460,862 $ 317,287 $ 323,649 $ 305,856
Minority interests in consolidated
subsidiaries (30,754) --- --- --- ---
(Income) loss from equity investees (20,849) (18,037) (8,887) (4,916) 7,627
------------ ------------ ------------ --------------- ---------------
Income from continuing operations
before taxes, minority interests
and earnings from equity
investees 137,985 442,825 308,400 318,733 313,483
Add: Total fixed charges (per
below) 51,766 27,815 32,693 33,883 45,152
Distributed income of equity investees 6,979 5,965 4,127 2,586 323
------------ ------------ ------------ --------------- ---------------
Total earnings $ 196,730 $ 476,605 $ 345,220 $ 355,202 $ 358,958
============ ============ ============ =============== ===============
FIXED CHARGES:
Interest expense $ 31,686 $ 9,995 $ 19,493 $ 21,692 $ 27,401
Estimate of interest within rental
expense (1) 20,080 17,820 13,200 12,191 17,751
------------ ------------ ------------ --------------- ---------------
Total fixed charges $ 51,766 $ 27,815 $ 32,693 $ 33,883 $ 45,152
============ ============ ============ =============== ===============
Ratio of earnings to fixed charges 3.80 17.13 10.56 10.48 7.95
============ ============ ============ =============== ===============
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(1) Fixed charges include the estimated interest component of rent expense
(one-third of rent expense under operating leases) included in income from
continuing operations.
(2) Effective on July 1, 2001, the Company completed the sale of the
Company's Outsourcing Business. The Company also entered into agreements
with Electronic Data Systems Corporation ("EDS") for (i) EDS to manage the
Company's IT systems for 10-years (the "IT Outsourcing Agreement"), and
(ii) the Company and EDS to jointly market certain IT services and software
solutions to the travel and transportation industries (the "Marketing
Agreements"). See Note 2 of Notes to the Financial Statements. The results
of operations of the Outsourcing Business have been reclassified and
presented as income from discontinued operations, net, for 2000, 1999 and
1998. Results of operations for 1997 and 1996 have not been reclassified
for discontinued operations due to the changes in the Company's
organizational structure beginning in 1998 which limit the ability of the
Company to accurately reclassify the results of operations for these
periods to present the Outsourcing Business as a discontinued operation.
Dates Referenced Herein and Documents Incorporated by Reference
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