EX-12 4 a2059456zex-12.txt EXHIBIT 12 Exhibit 12 CITIZENS COMMUNICATIONS COMPANY Statement Showing Computation of Ratio of Earnings to Fixed Charges for the five years ended December 31, 2000 (DOLLARS IN THOUSANDS)
12/31/2000 12/31/1999 12/31/1998 12/31/1997 12/31/1996 ---------------------------------------------------------- Pre-tax income before dividends on convertible preferred securities and discontinued operations $ (49,993) $ 217,709 $ 69,314 $ 13,684 $ 241,997 Income or loss from equity investees (1,935) (2,019) (1,163) (1,108) (909) Minority interest (12,222) (23,227) (14,032) (645) -- ----------------------------------------------------------- Pre-tax income from continuing operations before adjustment for minority interest in consolidated subsidiaries or income or loss from equity investees (64,150) 192,463 54,119 11,931 241,088 Fixed charges 206,650 142,847 125,798 114,184 93,852 Amortization of capitalized interest -- -- -- -- -- Distributed income of equity investees 800 600 1,100 600 600 Interest capitalized (4,766) (8,681) (10,444) (4,693) (3,109) Preference security dividend requirements of consolidated subsidiaries (10,063) (10,063) (10,063) (10,063) (9,477) Minority interest in pre-tax income of subsidiaries that have not incurred fixed charges -- -- -- -- -- ---------------------------------------------------------- Total earnings 128,471 317,166 160,510 111,959 322,953 ---------------------------------------------------------- Ratio of earnings to fixed charges 0.62 2.22 1.28 0.98 3.44 ==========================================================
CITIZENS COMMUNICATIONS COMPANY Statement Showing Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Dividends for the five years ended December 31, 2000 (DOLLARS IN THOUSANDS)
12/31/2000 12/31/1999 12/31/1998 12/31/1997 12/31/1996 -------------------------------------------------------------- Pre-tax income before dividends on convertible preferred securities and discontinued operations $ (49,993) $ 217,709 $ 69,314 $ 13,684 $ 241,997 Income or loss from equity investees (1,935) (2,019) (1,163) (1,108) (909) Minority interest (12,222) (23,227) (14,032) (645) -- -------------------------------------------------------------- Pre-tax income from continuing operations before adjustment for minority interest in consolidated subsidiaries or income or loss from equity investees (64,150) 192,463 54,119 11,931 241,088 Fixed charges 216,713 152,910 135,861 124,247 103,329 Amortization of capitalized interest -- -- -- -- -- Distributed income of equity investees 800 600 1,100 600 600 Interest capitalized (4,766) (8,681) (10,444) (4,693) (3,109) Preference security dividend requirements of consolidated subsidiaries (10,063) (10,063) (10,063) (10,063) (9,477) Minority interest in pre-tax income of subsidiaries that have not incurred fixed charges -- -- -- -- -- -------------------------------------------------------------- Total earnings 138,534 327,229 170,573 122,022 332,431 -------------------------------------------------------------- Ratio of earnings to combined fixed charges 0.64 2.14 1.26 0.98 3.22 ==============================================================
CITIZENS COMMUNICATIONS COMPANY Statement Showing Computation of Ratio of Earnings to Fixed Charges and Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Dividends for the six months ended June 30, 2001 (DOLLARS IN THOUSANDS)
FIXED COMBINED CHARGES FIXED CHARGES ---------------------------- Pre-tax income before dividends on convertible preferred securities and discontinued operations $ 27,276 $ 27,276 Income or loss from equity investees (1,068) (1,068) Minority interest -- -- --------------------------- Pre-tax income from continuing operations before adjustment for minority interest in consolidated subsidiaries or income or loss from equity investees 26,208 26,208 Fixed charges 142,538 160,217 Amortization of capitalized interest -- -- Distributed income of equity investees 1,850 1,850 Interest capitalized (1,073) (1,073) Preference security dividend requirements of consolidated subsidiaries (5,031) (5,031) Carrying Cost of equity forward contracts (12,647) (12,647) Minority interest in pre-tax income of subsidiaries that have not incurred fixed charges -- -- --------------------------- Total earnings 151,845 169,523 --------------------------- Ratio of earnings to fixed charges 1.07 1.06 ===========================