EX-12.1 2 w99680exv12w1.htm RATIO OF EARNINGS exv12w1
 

Exhibit 12.1

NII HOLDINGS, INC.
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES
(dollars in thousands)

                 
    Three Months Ended
    June 30,
    2004   2003
Income from continuing operations before income tax
   $ 41,800     $ 50,079  
Add:
                
Fixed charges
     15,586       22,177  
Amortization of capitalized interest
     1,715       1,496  
Less:
                
Interest capitalized
     528       1,650  
Equity in (losses) gains of unconsolidated affiliates
     —       —  
Losses attributable to minority interests
     —       —  
 
  
 
Earnings as adjusted
   $ 58,573     $ 72,102  
 
  
 
Fixed charges:
                
Interest expense on indebtedness (including amortization of debt expense and discount)
   $ 10,729     $ 17,003  
Interest capitalized
     528       1,650  
Portion of rent expense representative of interest (30%)
     4,329       3,524  
 
  
 
Fixed charges
   $ 15,586     $ 22,177  
 
  
 
Ratio of earnings to fixed charges
     3.76       3.25  
 
  
 
Deficiency of earnings to cover fixed charges
   $ —     $ —