EX-12.1 4 nihd-12312014x10kxex121.htm EXHIBIT 12.1 NIHD-12.31.2014-10K-Ex 12.1
Exhibit 12.1

NII HOLDINGS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31,
 
2014
 
2013
 
2012
 
2011
 
2010
 
 
 
 
 
 
 
 
 
 
(Loss) earnings:
 
 
 
 
 
 
 
 
 
(Loss) income from continuing operations before reorganization items and income tax provision
$
(1,703,221
)
 
$
(988,036
)
 
$
76,305

 
$
724,871

 
$
688,971

 
 
 
 
 
 
 
 
 
 
Add:
 
 
 
 
 
 
 
 
 
Fixed charges
572,617

 
695,044

 
568,162

 
460,431

 
405,298

Amortization of capitalized interest
52,718

 
49,066

 
38,720

 
21,086

 
10,396

 
 
 
 
 
 
 
 
 
 
Less:
 
 
 
 
 
 
 
 
 
Interest capitalized
32,541

 
78,254

 
127,189

 
76,204

 
10,819

(Loss) earnings, as adjusted
$
(1,110,427
)
 
$
(322,180
)
 
$
555,998

 
$
1,130,184

 
$
1,093,846

 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense on indebtedness (including amortization of debt expense and discount)
$
449,345

 
$
526,530

 
$
359,795

 
$
309,279

 
$
331,933

Interest capitalized
32,541

 
78,254

 
127,189

 
76,204

 
10,819

Portion of rent expense representative of interest (30%)
90,731

 
90,260

 
81,178

 
74,948

 
62,546

Fixed charges
$
572,617

 
$
695,044

 
$
568,162

 
$
460,431

 
$
405,298

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
—

(1)
—

(1)
0.98

 
2.45

 
2.70


(1) For the years ended December 31, 2014 and 2013, earnings were inadequate to cover fixed charges by $1,683.0 million and $1,017.2 million, respectively.