EX-12.1 6 w81308a1exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
Radio One, Inc.
Calculation of Ratio of Earnings to Fixed Charges
(in thousands of U.S. dollars except for ratios)
                                                           
    Three Months                  
    Ended                  
    March 31,       Year Ended December 31,  
    2011     2010       2010     2009     2008     2007     2006  
Earnings:
                                                          
(Loss) income from continuing operations before provision for (benefit from) income taxes(1)
   $ (18,443 )   $ (4,969 )     $ (22,450 )   $ (39,729 )   $ (336,716 )   $ (196,466 )   $ 38,499  
Plus: fixed charges
     19,475       9,408         47,524       39,050       60,401       73,730       73,877  
Less: equity in income (loss) of affiliated company
     3,079       909         5,558       3,653       (3,652 )     (15,836 )     (2,341 )
Plus: dividends received from affiliated company
     —       1,325         7,800       4,826       —       —       —  
 
                                            
Total
   $ (2,047 )   $ 4,855       $ 27,316     $ 494     $ (272,663 )   $ (106,900 )   $ 114,717  
 
                                            
 
                                                          
Fixed Charges:
                                                          
Interest expense
   $ 19,333     $ 9,235       $ 46,834     $ 38,404     $ 59,689     $ 72,770     $ 72,932  
Estimate of the interest within operating leases
     142       173         690       646       712       960       945  
 
                                            
Total
   $ 19,475     $ 9,408       $ 47,524     $ 39,050     $ 60,401     $ 73,730     $ 73,877  
 
                                            
 
                                                          
Actual ratio of earnings to fixed charges(2)
     —       —         —       —       —       —       1.55  
 
                                                          
Pro forma ratio of earnings to fixed charges(3)
             —         —                                  
 
                                                          
Supplemental pro forma ratio of earnings to fixed charges(4)
     —       —         —                                  
 
(1)   For purposes of calculating the ratio of earnings to fixed charges, earnings represent income (loss) before income taxes plus fixed charges.
 
(2)   Earnings were insufficient to cover fixed charges by approximately $196.5 million, $336.7 million, $39.7 million and $22.5 million for the fiscal years 2007, 2008, 2009 and 2010, respectively, and by approximately $5.0 million and $18.4 million for the three months ended March 31, 2010 and 2011, respectively.
 
(3)   Earnings were insufficient to cover fixed charges for the fiscal year and for the three months ended March 31, 2010 when giving effect to the increase in interest expense due to the refinancing
 
(4)   Earnings were insufficient to cover fixed charges for the fiscal year and for the three months ended March 31, 2011 and 2010, respectively, when giving effect to the increase in interest expense due to the refinancing and the consolidation of TV One.