EX-12 12 v370125_ex12.htm EXHIBIT 12

 

Exhibit 12

Statement of Computation of Ratio of Earnings to Fixed Charges

  

   Twelve Months Ended December 31, 
   2013   2012   2011   2010   2009 
Earnings:                         
Income (Loss) from continuing operations attributable to MDC Partners Inc.  $(137,479)  $(78,758)  $(82,592)  $(11,934)  $(16,249)
Additions:                         
Income taxes (recovery)   (4,291)   9,553    41,735    (165)   8,536 
Noncontrolling interest in earnings of consolidated subsidiaries   6,461    6,863    8,429    10,378    5,566 
Fixed charges, as shown below   113,893    58,267    50,577    39,528    27,404 
Distributions received from equity-method investees   3,761    1,288    4,584    638    198 
    119,824    75,971    105,325    50,379    41,704 
Subtractions:                         
Equity in income (loss) of nonconsolidated affiliates   281    633    213    866    (8)
Noncontrolling interest in earnings of consolidated subsidiaries that have not incurred fixed charges                    
    281    633    213    866    (8)
Earnings (loss) as adjusted   (17,936)   (3,420)   22,520    37,579    25,463 
Fixed charges:                         
Interest on indebtedness, expensed or capitalized   93,060    44,322    39,747    31,351    18,057 
Amortization of debt discount and expense and premium on indebtedness, expensed or capitalized   7,762    2,249    2,175    2,136    4,041 
Interest within rent expense   13,071    11,696    8,655    6,041    5,306 
Total fixed charges  $113,893   $58,267   $50,577   $39,528   $27,404 
Ratio of earnings to fixed charges   N/A    N/A    N/A    N/A    N/A 
Dollar amount deficiency  $131,829   $61,687   $28,057    1,949    1,941