EX-12.1 4 dex121.htm COMPUTATION OF RATIOS OF EARNINGS Computation of Ratios of Earnings

EXHIBIT 12.1

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)

    

SIX MONTHS

ENDED JUNE 30,

  
     2002
     2003
  

Computation of Earnings:

                 

Income (loss) before income taxes, minority interests and cumulative effect of change accounting principle

    $ (170,070 )   $ (139,141 )

Add:

                 

Fixed charges (as computed below)

      168,725       169,226  
    
 
     $ (1,345 )   $ 30,085  
    
 

Computation of Fixed Charges and Combined Fixed Charges and Preferred Stock Dividends:

                 

Interest expense

    $ 103,510     $ 109,985  

Amortization of deferred financing costs and discounts on long-term debt

      49,197       35,229  

Interest component of operating lease expense

      16,018       24,012  
    
 

Fixed charges

      168,725       169,226  

Preferred stock dividends

      40,966       34,452  
    
 

Combined fixed charges and preferred stock dividends

    $ 209,691     $ 203,678  
    
 

Ratio of Earnings to Fixed Charges

      —         —    
    
 

Deficiency of Earnings to Cover Fixed Charges

    $ 170,070     $ 139,141  
    
 

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

      —         —    
    
 

Deficiency of Earnings to Cover Combined Fixed Charges and Preferred Stock Dividends

    $ 211,036     $ 173,593