EX-12.1 3 dex121.htm COMPUTATION OF RATIOS Computation of Ratios

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)

 

     THREE MONTHS
ENDED MARCH 31,


 
     2003

    2004

 

Computation of Earnings:

                

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

   $ (62,458 )   $ (57,666 )

Add:

                

Fixed charges (as computed below)

     84,644       73,148  
    


 


     $ 22,186     $ 15,482  
    


 


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

                

Interest expense

   $ 55,150     $ 56,546  

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

     17,488       2,960  

Interest component of operating lease expense

     12,006       13,642  
    


 


Fixed charges

     84,644       73,148  

Preferred stock dividends

     14,371       9,696  
    


 


Combined fixed charges and preferred stock dividends

   $ 99,015     $ 82,844  
    


 


Ratio of Earnings to Fixed Charges

     —         —    
    


 


Deficiency of Earnings to Cover Fixed Charges

   $ 62,458     $ 57,666  
    


 


Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

     —         —    
    


 


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

   $ 76,829     $ 67,362