EX-12.1 3 dex121.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Computation of Ratios of Earnings to Fixed Charges

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,


 
     2003

    2004

 
     (As restated)  

Computation of Earnings:

                

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

   $ (181,823 )   $ (156,671 )

Add:

                

Fixed charges (as computed below)

     147,810       134,790  
    


 


     $ (34,013 )   $ (21,881 )
    


 


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

                

Interest expense

   $ 93,011     $ 108,117  

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

     34,509       5,773  

Interest component of operating lease expense

     20,290       20,900  
    


 


Fixed charges

     147,810       134,790  

Preferred stock dividends

     36,404       19,028  
    


 


Combined fixed charges and preferred stock dividends

   $ 184,214     $ 153,818  
    


 


Ratio of Earnings to Fixed Charges

     —         —    
    


 


Deficiency of Earnings to Cover Fixed Charges

   $ 181,823     $ 156,671  
    


 


Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

     —         —    
    


 


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

   $ 218,227     $ 175,699