EX-12.1 3 g74716eex12-1.txt CALCULATION OF RATIO OF EARNINGS EXHIBIT 12.1 PAXSON COMMUNICATIONS CORPORATION CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES (In thousands)
YEAR ENDED DECEMBER 31, 1997 1998 1999 2000 2001 --------- --------- --------- --------- --------- Net (loss) income $ 214,689 $ (88,288) $(160,372) $(178,525) $(203,782) Equity in loss of unconsolidated investment 430 13,273 2,260 539 -- Extraordinary items -- -- -- -- 9,903 (Income) loss from discontinued operations (251,193) (1,182) -- -- -- Provision (benefit) for income taxes (21,879) (37,389) (57,257) 120 120 --------- --------- --------- --------- --------- Earnings, as defined $ (57,953) $(113,586) $(215,369) $ (177,866) $ (193,759) ========= ========= ========= ========== ========== Earnings, as defined $ (57,953) $(113,586) $(215,369) $(177,866) $(193,759) Fixed charges, as below 39,212 45,468 54,943 53,385 54,619 --------- --------- --------- --------- --------- Total earnings, as defined $ (18,741) $ (68,118) $(160,426) $(124,481) $(139,140) ========= ========= ========= ========= ========= Fixed charges, as defined: Interest expense $ 37,790 $ 41,906 $ 50,286 $ 47,973 $ 49,722 Rental interest factor 1,422 3,562 4,657 5,412 4,897 --------- --------- --------- --------- --------- Total fixed charges, as defined 39,212 45,468 54,943 53,385 54,619 --------- --------- --------- --------- --------- Ratio of earnings to fixed charges (0.48) (1.50) (2.92) (2.33) (2.55) ========= ========= ========= ========== ========== Earnings were insufficient to cover fixed charges by $ (57,953) $(113,586) $(215,369) $(177,866) $(193,759) ========= ========= ========= ========== ==========