EX-12 6 dex12.txt STATEMENT RE: RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12 Entravision Communications Corporation Computation of Earnings To Fixed Charges (In Thousands)
Years Ended December 31, ---------------------------------------------------------------- 2001 2000 1999 1998 1997 ---- ---- ---- ---- ---- Fixed Charges: Interest expense $ 22,265 $ 29,834 $ 9,690 $ 8,386 $ 5,222 Non-cash interest expense 0 39,667 2,500 0 0 Interest component in rent (1) 6,960 2,820 667 400 333 Accretion of Preferred stock redemption value 10,117 2,449 0 0 0 Capitalized interest 250 122 39 0 0 ---------------------------------------------------------------- Total fixed charges $ 39,592 $ 74,892 $ 12,896 $ 8,786 $ 5,555 ================================================================ Earnings Available For Fixed Charges: Loss before income taxes ($88,821) ($94,960) ($40,078) ($3,492) ($4,695) Add: Fixed charges 39,592 74,892 12,896 8,786 5,555 Amortization of capitalized interest 2 1 1 0 0 Less: Accretion of preferred stock redemption value (10,117) (2,449) 0 0 0 Capitalized interest (250) (122) (39) 0 0 ---------------------------------------------------------------- Earnings available for fixed charges (1) ($59,594) ($22,638) ($27,220) $ 5,294 $ 860 ================================================================ Ratio of earnings to fixed charges (2) (1.51) (0.30) (2.11) 0.60 0.15
(1) Earnings available for fixed charges equals loss before income taxes, plus fixed charges and amortization of capitalized interest, less the accretion of preferred stock redemption value and capitalized interest. Fixed charges consist of interest expense (including amortization of debt costs relating to our indebtedness), non-cash interest expense, one-third of rent expense as representative of the interest portion of rentals, capitalized interest, and the accretion of our preferred stock's redemption value. (2) Earnings were inadequate to cover fixed charges for each of the five years in the period ended December 31, 2001. Additional earnings would have been required to cover fixed charges for each of the five years in the period ended December 31, 2001, in the amount of (in thousands) 2001 $99,186; 2000 $97,530; 1999 $40,116; 1998 $3,492; and 1997 $4,695.