EX-12.1 5 a2123110zex-12_1.htm EXHIBIT 12.1
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EXHIBIT 12.1


UNIVISION COMMUNICATIONS INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS
FIVE YEARS ENDED DECEMBER 31, 2002
AND NINE MONTHS ENDED SEPTEMBER 30, 2002 AND 2003
(Amounts in thousands, except ratios)

 
   FISCAL YEAR ENDED DECEMBER 31,
   NINE MONTHS ENDED SEPTEMBER 30,
 
   1998
   1999
   2000
   2001
   2002
   2002
   2003
Income before taxes and equity losses   $ 51,039   $ 175,578   $ 229,832   $ 160,171   $ 162,309   $ 99,497   $ 168,687
Fixed charges     40,945     32,884     36,902     64,171     101,250     76,625     64,665
   
 
 
 
 
 
 
  Total earnings   $ 91,984   $ 208,462   $ 266,734   $ 224,342   $ 263,559   $ 176,122   $ 233,352

Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense   $ 35,830   $ 27,459   $ 30,097   $ 53,463   $ 87,233   $ 66,043   $ 55,059
Estimate of interest within rent expense     3,438     3,984     5,444     8,220     10,171     7,699     6,753
Amortization of debt expenses     1,677     1,441     1,361     2,488     3,846     2,883     2,853
   
 
 
 
 
 
 
  Total fixed charges   $ 40,945   $ 32,884   $ 36,902   $ 64,171   $ 101,250   $ 76,625   $ 64,665

Preference dividends
 
$
606
 
$
540
 
$
518
 
$
70
 
$
25
 
$
25
 
 
—
Ratio of income before taxes to net income     2.38     2.10     1.92     2.15     1.71     1.79     —
   
 
 
 
 
 
 
Preference dividends on pre-tax basis   $ 1,445   $ 1,132   $ 997   $ 150   $ 43   $ 45     —
   
 
 
 
 
 
 
 
Combined fixed charges and preference dividends
 
$
42,390
 
$
34,016
 
$
37,899
 
$
64,321
 
$
101,293
 
$
76,670
 
$
64,665

Ratio of Earnings to Fixed Charges
 
 
2.2
 
 
6.3
 
 
7.2
 
 
3.5
 
 
2.6
 
 
2.3
 
 
3.6

Ratio of Earnings to Combined
    Fixed Charges and Preference
    Dividends
 
 
2.2
 
 
6.1
 
 
7.0
 
 
3.5
 
 
2.6
 
 
2.3
 
 
3.6


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UNIVISION COMMUNICATIONS INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS FIVE YEARS ENDED DECEMBER 31, 2002 AND NINE MONTHS ENDED SEPTEMBER 30, 2002 AND 2003 (Amounts in thousands, except ratios)