EX-12 9 dex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 CROWN CASTLE INTERNATIONAL CORP. COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES (DOLLARS IN THOUSANDS)
NINE MONTHS ENDED YEARS ENDED DECEMBER 31, SEPTEMBER 30, ------------------------------------------------------------------------------------------ 1998 1999 2000 2001 2002 2002 2003 ---- ---- ---- ---- ---- ---- ---- Computation of Earnings: Income (loss) before income taxes, minority interests and cumulative effect of change in accounting principle $(35,747) $(91,316) $(203,819) $(350,995) $(262,743) $(235,522) $(234,734) Add: Fixed charges (as computed below) 32,296 126,675 271,994 329,482 350,593 254,862 252,019 Equity in losses (earnings) of unconsolidated affiliate (2,055) -- -- -- -- -- -- -------- -------- --------- --------- --------- --------- --------- $ (5,506) $ 35,359 $ 68,175 $ (21,513) $ 87,850 $ 19,340 $ 17,285 ======== ======== ========= ========= ========= ========= ========= Computation of Fixed Charges: Interest expense $ 11,179 $ 60,971 $ 160,291 $ 205,691 $ 208,003 $ 155,975 $ 160,195 Amortization of deferred financing costs, discounts on long-term debt and dividends on preferred stock 17,910 49,937 81,003 91,753 94,567 74,859 55,807 Interest component of operating lease expense 3,207 15,767 30,700 32,038 48,023 24,028 36,017 -------- -------- --------- --------- --------- --------- --------- Fixed charges $ 32,296 $126,675 $ 271,994 $ 329,482 $ 350,593 $ 254,862 $ 252,019 ======== ======== ========= ========= ========= ========= ========= Ratio of Earnings to Fixed Charges -- -- -- -- -- -- -- ======== ======== ========= ========= ========= ========= ========= Deficiency of Earnings to Cover Fixed Charges $ 37,802 $ 91,316 $ 203,819 $ 350,995 $ 262,743 $ 235,522 $ 234,734 ======== ======== ========= ========= ========= ========= =========