EXHIBIT 12
CINEMARK HOLDINGS, INC.
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Year Ended December 31, |
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| 2007 | 2008 | 2009 | 2010 | 2011 | ||||||||||||||||
| Computation of Earnings: |
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| Pretax income (loss) from continuing operations before equity income (loss) |
$ | 203,344 | $ | (24,897 | ) | $ | 146,508 | $ | 210,939 | $ | 199,981 | |||||||||
| Add: |
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| Fixed charges |
208,723 | 182,185 | 173,739 | 188,432 | 205,167 | |||||||||||||||
| Amortization of capitalized interest |
474 | 489 | 496 | 496 | 496 | |||||||||||||||
| Distributed income (loss) of equity investees |
(2,462 | ) | (2,373 | ) | (907 | ) | (3,438 | ) | 5,651 | |||||||||||
| Less: |
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| Capitalized interest |
(618 | ) | (270 | ) | — | — | — | |||||||||||||
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| TOTAL EARNINGS |
$ | 409,461 | $ | 155,134 | $ | 319,836 | $ | 396,429 | $ | 411,295 | ||||||||||
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| Computation of Fixed Charges: |
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| Interest expense |
$ | 140,869 | $ | 111,362 | $ | 97,730 | $ | 107,728 | $ | 118,358 | ||||||||||
| Capitalized interest |
618 | 270 | — | — | — | |||||||||||||||
| Amortization of debt issue costs |
4,727 | 4,696 | 4,775 | 4,716 | 4,744 | |||||||||||||||
| Interest factor on rent expense |
62,509 | 65,857 | 71,234 | 75,988 | 82,065 | |||||||||||||||
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| TOTAL FIXED CHARGES |
$ | 208,723 | $ | 182,185 | $ | 173,739 | $ | 188,432 | $ | 205,167 | ||||||||||
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| RATIO OF EARNINGS TO FIXED CHARGES (1) |
1.96x | — | 1.84x | 2.10x | 2.00x | |||||||||||||||
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| (1) | For the purposes of calculating the ratio of earnings to fixed charges, earnings consist of income (loss) from continuing operations before taxes plus fixed charges excluding capitalized interest. Fixed charges consist of interest expense, capitalized interest, amortization of debt issue cost and that portion of rental expense which we believe to be representative of the interest factor. For the year ended December 31, 2008, earnings were insufficient to cover fixed charges by $27.1 million. |