EX-12 22 dex12.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement Regarding Computation of Ratio of Earnings to Fixed Charges

EXHIBIT 12

 

DIRECTV HOLDINGS LLC

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND EARNINGS

 

     Pro Forma (a)

    
     Year Ended
December 31,
2002


   Three-
Months
Ended
March 31,
2003


   Three-
Months
Ended
March 31,
2003


EARNINGS:

                    

Earnings from continuing operations before income taxes

   $ 42.4    $ 46.3    $ 75.7

Interest expense(b)

     176.7      44.2      14.8

Estimated interest portion of rents(c)

     10.2      2.5      2.5
    

  

  

Total Earnings

   $ 229.3    $ 93.0    $ 93.0
    

  

  

FIXED CHARGES:

                    

Interest expense(b)

   $ 176.7    $ 44.2    $ 14.8

Estimated interest portion of rents(c)

     10.2      2.5      2.5
    

  

  

Total Fixed Charges

   $ 186.9    $ 46.7    $ 17.3
    

  

  

Ratio of Earnings to Fixed Charges and Earnings

     1.23      1.99      5.37

(a)   Amounts adjusted as if the issuance of the Original Notes and borrowings under the senior secured credit facility had occurred as of the beginning of the period presented.
(b)   Pro forma Interest expense assumes a weighted average interest rate of 6.735% and reflects the principle debt outstanding for the Original Notes and the borrowings under the senior secured credit facility.
(c)   Interest expense was estimated by using one-third of total rental payments.

 

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