Caesars Entertainment Corp, et al. – ‘S-3’ on 9/20/95 – EX-12

As of:  Wednesday, 9/20/95   ·   Accession #:  950112-95-2453   ·   File #s:  33-62783, -01

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Registration Statement for Securities Offered Pursuant to a Transaction   —   Form S-3
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: S-3         Registration Statement for Securities Offered         41    214K 
                          Pursuant to a Transaction                              
 2: EX-4.40     Instrument Defining the Rights of Security Holders    77    265K 
 3: EX-4.41     Instrument Defining the Rights of Security Holders    84    244K 
 4: EX-4.42     Instrument Defining the Rights of Security Holders   107    318K 
 5: EX-4.43     Instrument Defining the Rights of Security Holders   106    317K 
 6: EX-12       Statement re: Computation of Ratios                    2±    13K 
 7: EX-24.1     Power of Attorney                                      1      7K 
 8: EX-26.1     Invitation for Competitive Bids                        7     21K 
 9: EX-26.2     Invitation for Competitive Bids                        7     21K 
10: EX-26.3     Invitation for Competitive Bids                        7     21K 
11: EX-26.4     Invitation for Competitive Bids                        7     21K 

EX-12   —   Statement re: Computation of Ratios

                                                        [Enlarge/Download Table]


                                                                                                                         Exhibit 12
                                                    HARRAH'S ENTERTAINMENT, INC.                                                   
                                        COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (a)                                      
                                              (In thousands, except ratio amounts)                                                 

                                                  Six Months                                                                       
                                                       Ended                                Fiscal Year                            
                                                    June 30,        ---------------------------------------------------------------
                                                        1995            1994          1993         1992          1991          1990
                                                 -----------        --------     ---------    ---------      --------      --------
                                                                                                                                   
Income from continuing                                                                                                             
   operations.................................    $64,047           $ 49,984     $  74,867     $ 49,577      $ 34,499      $ 30,707

Add:                                                                                                                               
  Provision for income taxes..................     43,596             75,391        59,394       35,479        24,566        23,505
  Interest expense............................     45,629             78,322        73,080       77,571        92,169        88,263
  Interest included in                                                                                                             
    rental expense............................      3,146              5,244         7,207        3,648         3,801         3,936
  Amortization of                                                                                                                  
    capitalized interest......................        287                628           892          311         1,655           276
  (Income) or loss from                                                                                                            
    equity investments........................          -                  -           (89)         167             -             -
  Adjustment to include 100%                                                                                                       
    of nonconsolidated,                                                                                                            
    majority-owned                                                                                                                 
    subsidiary (b)............................    (10,840)            (9,397)            -            -             -             -
                                                 --------           --------     ---------    ---------      --------      --------

Earnings as defined...........................   $145,865           $200,172      $215,351     $166,753      $156,690      $146,687
                                                 ========           ========      ========     ========      ========      ========

Fixed charges:                                                                                                                     
  Interest expense............................   $ 45,629           $ 78,322      $ 73,080     $ 77,571       $92,169      $ 88,263
  Capitalized interest........................      1,282              3,764         3,107        2,297         1,558         4,542
  Interest included in                                                                                                             
    rental expense............................      3,146              5,244         7,207        3,648         3,801         3,936
  Adjustment to include 100%                                                                                                       
    of nonconsolidated,                                                                                                            
    majority-owned                                                                                                                 
    subsidiary (b)............................     29,805             15,110             -            -             -             -
                                                 --------           --------     ---------    ---------      --------      --------

Total fixed charges......................,....   $ 79,862           $102,440      $ 83,394      $83,516       $97,528       $96,741
                                                 ========           ========      ========     ========      ========      ========

Ratio of earnings to                                                                                                               
  fixed charges...............................        1.8                2.0           2.6          2.0           1.6           1.5
                                                      ===                ===           ===          ===           ===           ===

(a)  As disclosed in Note 12 to the consolidated financial statements in the    
1994 Harrah's Entertainment Form 10-K/A, the Company has guaranteed certain     
third party loans. To date, the Company has not been required to perform under  
such guarantees and, as a result, has not included the fixed charges associated 
with these guarantees in the computation of these ratios. The estimated amounts 
of such fixed charges for the six months ended June 30, 1995 and fiscal year    
1994 were $4.3 million and $6.0 million, respectively.                          

(b)  The Company owns a majority interest in Harrah's Jazz Company. However,    
voting control is shared equally among the three partners. As a result, Harrah's
Jazz is not consolidated into the Company's financial statements. As required   
by Item 503.(d)(2), the Company's ratio of earnings to fixed charges            
computation has been adjusted to include all of Harrah's Jazz financial results 
and all of its fixed charges.                                                   

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘S-3’ Filing		Date		Other Filings
		9/22/95
Filed on:		9/20/95
		6/30/95		10-Q,  8-K
				List all Filings