EX-12.1 6 a2130409zex-12_1.htm EX-12.1
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Exhibit 12.1


NTL INCORPORATED AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 
   Year ended December 31,
  
 
   2003
   2002(1)
   2001
   2000
   1999
  
 
   Reorganized
Company
   Predecessor
Company
   Predecessor
Company
   Predecessor
Company
   Predecessor
Company
  
 
   (in millions)

  
Fixed charges:                                
Interest   $ 673.6   $ 826.5   $ 1,308.5   $ 981.4   $ 719.9  
Amortization of debt expense     78.3     31.4     29.4     33.8     18.0  
Interest portion of rental expense     28.0     46.7     24.8     15.4     9.2  
   
 
 
 
 
 
Fixed charges     779.9     904.6     1,362.7     1,030.6     747.1  
Preferred stock dividend requirement     —     —     —     —     13.1  
   
 
 
 
 
 
Combined fixed charges and preferred stock dividend requirement   $ 779.9   $ 904.6   $ 1,362.7   $ 1,030.6   $ 760.2  
   
 
 
 
 
 

Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Loss) from operations   $ (954.1 ) $ (2,401.5 ) $ (11,718.9 ) $ (2,468.0 ) $ (743.4 )
Fixed charges     779.9     904.6     1,362.7     1,030.6     747.1  
Less: capitalized interest     (5.5 )   (46.3 )   (67.7 )   (95.1 )   (41.8 )
   
 
 
 
 
 
    $ (179.7 ) $ (1,543.2 ) $ (10,423.9 ) $ (1,532.5 ) $ (38.1 )
   
 
 
 
 
 
Ratio of Earnings to Fixed Charges(2)                                
Deficiency     (959.6 )   (2,447.8 )   (11,786.6 )   (2,563.1 )   (798.3 )

        The ratio of earnings to fixed charges and combined fixed charges and preferred stock dividends is not meaningful for the periods that result in a deficit.

(1)
In accordance with SOP 90-7, the Company discontinued accruing interest on certain of its debt. For the year ended December 31, 2002, contractual interest was $1,425.4 million, which was $645.2 million in excess of reported interest expense.

(2)
For the years ended December 31, 2003, 2002, 2001, 2000 and 1999, the deficit of earnings to fixed charges was $959.6 million, $2,447.8 million, $11,786.6 million, $2,563.1 million and $785.2 million, respectively. For the year ended December 31, 1999, the deficit of earnings to combined fixed charges and preferred stock dividends was $798.3 million.


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NTL INCORPORATED AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES