EX-12 4 dex12.txt COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES EXHIBIT 12 CROWN CASTLE INTERNATIONAL CORP. COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (DOLLARS IN THOUSANDS)
THREE MONTHS YEARS ENDED DECEMBER 31, ENDED MARCH 31, ------------------------------------------------------- -------------------- 1996 1997 1998 1999 2000 2000 2001 ---- ---- ---- ---- ---- ---- ---- Computation of Earnings: Income (loss) before income taxes, minority interests, extraordinary item and cumulative effect of change in accounting principle $ (947) $(11,893) $(35,747) $(91,316) $(202,324) $(30,508) $(68,639) Add: Fixed charges (as computed below) 1,912 9,825 32,296 126,675 271,994 46,557 74,330 Equity in losses (earnings) of unconsolidated affiliate -- 1,138 (2,055) -- -- -- -- ------- -------- -------- -------- --------- -------- -------- $ 965 $ (930) $ (5,506) $ 35,359 $ 69,670 $ 16,049 $ 5,691 ======= ======== ======== ======== ========= ======== ======== Computation of Fixed Charges and Combined Fixed Charges and Preferred Stock Dividends: Interest expense $ 1,748 $ 7,095 $ 11,179 $ 60,971 $ 160,291 $ 22,622 $ 44,494 Amortization of deferred financing costs and discounts on long-term debt 55 2,159 17,910 49,937 81,003 19,139 22,161 Interest component of operating lease expense 109 571 3,207 15,767 30,700 4,796 7,675 ------- -------- -------- -------- --------- -------- -------- Fixed charges 1,912 9,825 32,296 126,675 271,994 46,557 74,330 Preferred stock dividends -- 2,199 5,411 28,881 59,469 11,493 19,505 ------- -------- -------- -------- --------- -------- -------- Combined fixed charges and preferred stock dividends $ 1,912 $ 12,024 $ 37,707 $155,556 $ 331,463 $ 58,050 $ 93,835 ======= ======== ======== ======== ========= ======== ======== Ratio of Earnings to Fixed Charges -- -- -- -- -- -- -- ======= ======== ======== ======== ========= ======== ======== Deficiency of Earnings to Cover Fixed Charges $ 947 $ 10,755 $ 37,802 $ 91,316 $ 202,324 $ 30,508 $ 68,639 ======= ======== ======== ======== ========= ======== ======== Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends -- -- -- -- -- -- -- ======= ======== ======== ======== ========= ======== ======== Deficiency of Earnings to Cover Combined Fixed Charges and Preferred Stock Dividends $ 947 $ 12,954 $ 43,213 $120,197 $ 261,793 $ 42,001 $ 88,144 ======= ======== ======== ======== ========= ======== ========