EX-12 3 c96603exv12.htm RATIO OF EARNINGS TO FIXED CHARGES exv12
 

Exhibit 12

 
    EMMIS COMMUNICATIONS CORPORATION AND SUBSIDIARIES
    RATIO OF EARNINGS TO FIXED CHARGES
    (Unaudited, dollars in thousands)
                 
    Three Months Ended May 31,
    2004     2005  
     
EARNINGS:
                
Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees
   $ (81,823 )   $ 19,658  
Add:
                
Fixed charges
     22,743       20,097  
Amortization of capitalized interest
     18       18  
Less:
                
Capitalized interest
     —       —  
Preferred stock dividends
     2,246       2,246  
     
Earnings
   $ (61,308 )   $ 37,527  
 
                
FIXED CHARGES:
                
Interest expense (including amortization of debt expenses)
   $ 19,696     $ 17,030  
Capitalized interest
     —       —  
Portion of rents representative of the interest factor
     801       821  
Preferred stock dividends
     2,246       2,246  
     
Fixed Charges
   $ 22,743     $ 20,097  
 
                
Ratio of Earnings to Fixed Charges
     N/A       1.9  
     
 
                
Deficiency
   $ 84,051     $ —