EX-12 4 ex-12123111.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Ex-12 123111


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,
 
2011
 
2010
 
2009
 
2008
 
2007
Computation of earnings:
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
$
179,807

 
$
(338,105
)
 
$
(190,523
)
 
$
(153,219
)
 
$
(317,003
)
Add:
 
 
 
 
 
 
 
 
 
Fixed charges (as computed below)
620,871

 
600,295

 
551,288

 
458,477

 
454,731

Subtract:
 
 
 
 
 
 
 
 
 
Interest capitalized
(265
)
 

 

 

 
(1,406
)
 
$
800,413

 
$
262,190

 
$
360,765

 
$
305,258

 
$
136,322

Computation of fixed charges and combined fixed charges and preferred stock dividends and losses on purchases of preferred stock:
 
 
 
 
 
 
 
 
 
Interest expense
$
404,968

 
$
406,222

 
$
386,447

 
$
332,058

 
$
329,610

Amortized premiums, discounts and capitalized interest expense related to indebtedness
102,883

 
84,047

 
59,435

 
22,056

 
20,649

Interest capitalized
265

 

 

 

 
1,406

Interest component of operating lease expense
112,755

 
110,026

 
105,406

 
104,363

 
103,066

Fixed charges
620,871

 
600,295

 
551,288

 
458,477

 
454,731

Dividends on preferred stock and losses on purchases of preferred stock
22,940

 
20,806

 
20,806

 
20,806

 
20,805

Combined fixed charges and preferred stock dividends and losses on purchases of preferred stock
$
643,811

 
$
621,101

 
$
572,094

 
$
479,283

 
$
475,536

Ratio of earnings to fixed charges
1.3

 

 

 

 

(Deficiency) excess of earnings to cover fixed charges
$
179,542

 
$
(338,105
)
 
$
(190,523
)
 
$
(153,219
)
 
$
(318,409
)
Ratio of earnings to combined fixed charges and preferred stock dividends and losses on purchases of preferred stock
1.2

 

 

 

 

(Deficiency) excess of earnings to cover combined fixed charges and preferred stock dividends and losses on purchases of preferred stock
$
156,602

 
$
(358,911
)
 
$
(211,329
)
 
$
(174,025
)
 
$
(339,214
)