EX-12.1 5 d60792_ex12-1.txt RATIO OF EARNING TO FIXED CHARGES Exhibit 12.1 Tevecap S.A. Computation of Earnings to Fixed Charges
For the six months ended June 30, For the year ended December 31, 2004 2003 2003 2002 2001 2000 1999 ----------------------------------------------------------------------- Ratio of earnings to fixed charges -- -- -- -- -- -- 4.35 In thousands of U.S. Dollars (Loss) income before income taxes, equity in (income) losses of affiliates and minority interest (8,136) (2,966) (24,120) (64,936) (73,726) (31,342) 74,436 Addback: Fixed charges (consisting of interest expense) 10,470 8,653 18,135 16,941 37,849 45,069 22,254 ----------------------------------------------------------------------- Adjusted earnings (losses) 2,334 5,687 (5,985) (47,995) (35,877) 13,727 96,690 ======================================================================= Earnings in deficit of fixed charges 8,136 2,966 24,120 64,936 73,726 31,342 -- =======================================================================
Fixed charges represent interest expense. Earnings represent (Loss) income before income taxes, equity in (income) losses of affiliates and minority interest plus fixed charges