EX-12 2 c18919exv12.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS exv12
 

EMMIS COMMUNICATIONS CORPORATION AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited, dollars in thousands)
                                 
    Three Months Ended August 31,   Six Months Ended August 31,
    2006   2007   2006   2007
EARNINGS:
                                
Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees
   $ 10,415     $ 8,124     $ 11,411     $ 10,795  
Add:
                                
Fixed charges
     14,455       11,630       29,892       23,944  
Amortization of capitalized interest
     18       18       37       37  
Less:
                                
Capitalized interest
     —       —       —       —  
Preferred stock dividends
     2,246       2,246       4,492       4,492  
         
Earnings
   $ 22,642     $ 17,526     $ 36,848     $ 30,284  
 
                                
FIXED CHARGES:
                                
Interest expense (including amortization of debt expenses)
   $ 11,554     $ 8,654     $ 24,116     $ 17,986  
Capitalized interest
     —       —       —       —  
Portion of rents representative of the interest factor
     655       730       1,284       1,466  
Preferred stock dividends
     2,246       2,246       4,492       4,492  
         
Fixed Charges
   $ 14,455     $ 11,630     $ 29,892     $ 23,944  
 
                                
Ratio of Earnings to Fixed Charges
     1.6       1.5       1.2       1.3