Exhibit 12.1
Red Rock Resorts, Inc.
Computation of Ratio of Earnings to Fixed Charges
| Year Ended December 31, | ||||||||||||||||||||
| 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||
| (in thousands) |
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| Consolidated pretax income (loss) from continuing operations |
$ | 197,794 | $ | 163,987 | $ | 143,418 | $ | 131,135 | $ | (79,089 | ) | |||||||||
| Less: Earnings of equity investees |
(1,632 | ) | (1,913 | ) | (809 | ) | (924 | ) | (1,603 | ) | ||||||||||
| Fixed charges (see below) |
136,465 | 145,132 | 149,230 | 156,193 | 169,710 | |||||||||||||||
| Distributed income from equity investees |
961 | 1,334 | 1,686 | 1,877 | 1,623 | |||||||||||||||
| Less: Capitalized interest |
(1,110 | ) | — | — | — | — | ||||||||||||||
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| Earnings |
$ | 332,478 | $ | 308,540 | $ | 293,525 | $ | 288,281 | $ | 90,641 | ||||||||||
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| Interest expense (a) |
$ | 131,442 | $ | 140,189 | $ | 144,489 | $ | 151,702 | $ | 165,220 | ||||||||||
| Capitalized interest |
1,110 | — | — | — | — | |||||||||||||||
| Estimated interest component of rental expense |
3,913 | 4,943 | 4,741 | 4,491 | 4,490 | |||||||||||||||
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| Fixed Charges |
$ | 136,465 | $ | 145,132 | $ | 149,230 | $ | 156,193 | $ | 169,710 | ||||||||||
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| Ratio of Earnings to Fixed Charges (b) |
2.4 | 2.1 | 2.0 | 1.8 | ||||||||||||||||
| Excess of fixed charges over earnings |
— | — | — | — | $ | 79,069 | ||||||||||||||
| (a) | Interest expense includes amortization of debt discount and debt issuance costs. |
| (b) | No ratio is shown for periods where earnings were inadequate to cover fixed charges. |
We had no preferred stock outstanding for any historical period presented, and accordingly, the ratio of earnings to combined fixed charges and preferred stock dividends is the same as the ratio of earnings to fixed charges.