EX-12.1 6 ex12cci.txt STATEMENT RE: COMPUTATION OF RATIOS EXHIBIT 12.1 COX COMMUNICATIONS, INC STATEMENT SETTING FORTH COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Year Ended December 31 1996 1997 1998 (Dollars in Millions) Earnings available for Fixed Charges: ------------------------------------ Income (loss) before minority interest $ (51.6) $ (136.5) $ 1,270.7 Income tax expense (benefit) 23.0 (53.5) 822.8 Equity in net losses of affiliated companies 170.4 404.4 547.2 Fixed Charges (see below), excluding capitalized interest 151.2 210.6 233.2 ------------------- ------------------ ------------------ Total $ 293.0 $ 425.0 $ 2,873.9 =================== ================== ================== Fixed charges: -------------- Interest expense $ 146.1 $ 202.1 $ 223.3 Minority interest expense - - - Capitalized interest 43.2 0.1 0.0 Interest component of rentals charged to income 5.1 8.5 9.9 Dividends on subsidiary preferred stock - - - ------------------- ----------------- ------------------ Total fixed charges including capitalized interest $ 194.4 $ 210.7 $ 233.2 =================== ================== ================== Ratio of earnings to fixed charges 1.5 2.0 12.3 =================== ================== ================== 1999 2000 (Dollars in Millions) Earnings available for Fixed Charges: ------------------------------------- Income (loss) before minority interest $ 900.5 $ 1,995.1 Income tax expense (benefit) 580.0 877.0 Equity in net losses of affiliated companies 90.5 7.3 Fixed Charges (see below), excluding capitalized interest 348.0 662.7 ------------------ ------------------ Total $ 1,919.0 $ 3,542.1 ================== ================== Fixed charges: -------------- Interest expense $ 305.7 $ 550.8 Minority interest expense 29.0 91.4 Capitalized interest - - Interest component of rentals charged to income 13.3 20.5 Dividends on subsidiary preferred stock - - ----------------- ------------------ Total fixed charges including capitalized interest $ 348.0 $ 662.7 ================= ================== Ratio of earnings to fixed charges 5.5 5.3 ================= ================== Three Months Ended March 31 2000 2001 (Dollars in Millions) Earnings available for Fixed Charges: ------------------------------------- Income (loss) before minority interest $ 1,088.9 $ (14.1) Income tax expense (benefit) 225.4 11.8 Equity in net losses of affiliated companies 6.5 5.8 Fixed Charges (see below), excluding capitalized interest 159.9 181.6 ---------------------- --------------------- Total $ 1,480.7 $ 185.1 ====================== ===================== Fixed charges: -------------- Interest expense $ 133.3 $ 153.9 Minority interest expense 22.3 22.0 Capitalized interest - - Interest component of rentals charged to income 4.3 5.7 Dividends on subsidiary preferred stock - - ---------------------- -------------------- Total fixed charges including capitalized interest $ 159.9 $ 181.6 ====================== ===================== Ratio of earnings to fixed charges 9.3 1.0 ====================== =====================