EX-12 4 dex12.txt COMPUTATION OF RATIOS AND EARNINGS EXHIBIT 12 CROWN CASTLE INTERNATIONAL CORP. COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (DOLLARS IN THOUSANDS)
YEARS ENDED DECEMBER 31, ------------------------------------------------------------------------ 1997 1998 1999 2000 2001 ---- ---- ---- ---- ---- Computation of Earnings: Income (loss) before income taxes, minority interests, extraordinary item and cumulative effect of change in accounting principle $(11,893) $(35,747) $(91,316) $(202,324) $(350,995) Add: Fixed charges (as computed below) 9,825 32,296 126,675 271,994 329,482 Equity in losses (earnings) of unconsolidated affiliate 1,138 (2,055) -- -- -- -------- -------- -------- --------- --------- $ (930) $ (5,506) $ 35,359 $ 69,670 $ (21,513) ======== ======== ======== ========= ========= Computation of Fixed Charges and Combined Fixed Charges and Preferred Stock Dividends: Interest expense $ 7,095 $ 11,179 $ 60,971 $ 160,291 $ 205,691 Amortization of deferred financing costs and discounts on long-term debt 2,159 17,910 49,937 81,003 91,753 Interest component of operating lease expense 571 3,207 15,767 30,700 32,038 -------- -------- -------- --------- --------- Fixed charges 9,825 32,296 126,675 271,994 329,482 Preferred stock dividends 2,199 5,411 28,881 59,469 79,028 -------- -------- -------- --------- --------- Combined fixed charges and preferred stock dividends $ 12,024 $ 37,707 $155,556 $ 331,463 $ 408,510 ======== ======== ======== ========= ========= Ratio of Earnings to Fixed Charges -- -- -- -- -- ======== ======== ======== ========= ========= Deficiency of Earnings to Cover Fixed Charges $ 10,755 $ 37,802 $ 91,316 $ 202,324 $ 350,995 ======== ======== ======== ========= ========= Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends -- -- -- -- -- ======== ======== ======== ========= ========= Deficiency of Earnings to Cover Combined Fixed Charges and Preferred Stock Dividends $ 12,954 $ 43,213 $120,197 $ 261,793 $ 430,023 ======== ======== ======== ========= =========