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Mandalay Resort Group – ‘10-K’ for 1/31/05 – EX-12

On:  Monday, 4/18/05, at 4:13pm ET   ·   For:  1/31/05   ·   Accession #:  1047469-5-10528   ·   File #:  1-08570

Previous ‘10-K’:  ‘10-K/A’ on 7/27/04 for 1/31/04   ·   Latest ‘10-K’:  This Filing

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 4/18/05  Mandalay Resort Group             10-K        1/31/05   14:1.7M                                   Merrill Corp/New/FA

Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.24M 
 3: EX-10.37    Material Contract                                   HTML     13K 
 4: EX-10.61    Material Contract                                   HTML    482K 
 5: EX-10.79    Material Contract                                   HTML     25K 
 2: EX-10.9     Material Contract                                   HTML     11K 
 6: EX-12       Statement re: Computation of Ratios                 HTML     22K 
 7: EX-21       Subsidiaries of the Registrant                      HTML     21K 
 8: EX-23.1     Consent of Experts or Counsel                       HTML     10K 
 9: EX-23.2     Consent of Experts or Counsel                       HTML     10K 
10: EX-23.3     Consent of Experts or Counsel                       HTML     10K 
11: EX-31.1     Certification per Sarbanes-Oxley Act (Section 302)  HTML     14K 
12: EX-31.2     Certification per Sarbanes-Oxley Act (Section 302)  HTML     14K 
13: EX-32.1     Certification per Sarbanes-Oxley Act (Section 906)  HTML     10K 
14: EX-32.2     Certification per Sarbanes-Oxley Act (Section 906)  HTML     10K 


EX-12   —   Statement re: Computation of Ratios
Exhibit Table of Contents

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11st Page   -   Filing Submission
"Exhibit 12
"Mandalay Resort Group Computation of Ratio of Earnings to Fixed Charges (amounts in thousands)
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Exhibit 12

Mandalay Resort Group

Computation of Ratio of Earnings to Fixed Charges

(amounts in thousands)

 
  Years Ended January 31,
 
 
  2001
  2002
  2003
  2004
  2005
 
Income before income tax and extraordinary loss   194,392   93,006   195,334   232,318   359,516  

Minority Interest

 

16,746

 

29,352

 

40,650

 

57,353

 

61,220

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 
  Interest expense   219,940   221,352   207,114   193,236   188,442  
  Proportionate share joint venture interest   9,888   7,501   7,172   8,089   8,245  
  Rentals representing an interest factor (1/3 of operating rental expense)   14,407   11,357   17,042   7,212   469  
   
 
 
 
 
 

Earnings as defined

 

455,373

 

362,568

 

467,312

 

498,208

 

617,892

 
   
 
 
 
 
 

Fixed charges (including capitalized items):

 

 

 

 

 

 

 

 

 

 

 
  Interest expense   219,940   221,352   207,114   193,236   188,442  
  Proportionate share joint venture interest   9,888   7,501   7,172   8,089   8,245  
  Capitalized interest   1,645   1,039   13,203   7,624   1,031  
  Rentals representing an interest factor   14,407   11,357   17,042   7,212   469  
   
 
 
 
 
 

Fixed charges as defined

 

245,880

 

241,249

 

244,531

 

216,161

 

198,187

 
   
 
 
 
 
 

Ratio of Earnings to Fixed Charges

 

1.85

x

1.50

x

1.91

x

2.30

x

3.12

x
   
 
 
 
 
 



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Mandalay Resort Group Computation of Ratio of Earnings to Fixed Charges (amounts in thousands)

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:4/18/058-K
For Period End:1/31/05
1/31/0110-K405,  10-K405/A
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Filing Submission 0001047469-05-010528   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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