EX-12.1 3 exhibit121.htm EXHIBIT 12.1 Exhibit 12.1
Exhibit 12.1

NII HOLDINGS, INC.
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31,
 
2007
 
2008
 
2009
 
2010
 
2011
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before
  income tax
$
510,496

 
$
480,817

 
$
586,177

 
$
597,738

 
$
542,151

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Add:
 
 
 
 
 
 
 
 
 
Fixed charges
207,835

 
269,020

 
286,302

 
420,778

 
481,452

Amortization of capitalized interest
6,652

 
8,244

 
10,163

 
11,677

 
21,056

 
 
 
 
 
 
 
 
 
 
Less:
 
 
 
 
 
 
 
 
 
Interest capitalized
7,251

 
10,345

 
12,472

 
10,814

 
76,028

Equity in (losses) gains of unconsolidated
  affiliates
—

 
—

 
—

 
—

 
—

Losses attributable to minority interests
—

 
—

 
—

 
—

 
—

Earnings as adjusted
$
717,732

 
$
747,736

 
$
870,170

 
$
1,019,379

 
$
968,631

 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense on indebtedness (including
  amortization of debt expense and discount)
$160,642
 
$205,516
 
$218,844
 
$342,204
 
$322,501
Interest capitalized
7,251

 
10,345

 
12,472

 
10,814

 
76,028

Portion of rent expense representative of
  interest (30%)
39,942

 
53,159

 
54,986

 
67,760

 
82,923

Fixed charges
$
207,835

 
$
269,020

 
$
286,302

 
$
420,778

 
$
481,452

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
3.45

 
2.78

 
3.04

 
2.42

 
2.01