EX-12 7 ex-12123113.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Ex-12 123113


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,
 
2013
 
2012
 
2011
 
2010
 
2009
Computation of earnings:
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
$
292,529

 
$
100,827

 
$
179,807

 
$
(338,105
)
 
$
(190,523
)
Add:
 
 
 
 
 
 
 
 
 
Fixed charges (as computed below)
762,657

 
727,472

 
620,871

 
600,295

 
551,288

Subtract:
 
 
 
 
 
 
 
 
 
Interest capitalized
(1,832
)
 
(2,335
)
 
(265
)
 

 

 
$
1,053,354

 
$
825,964

 
$
800,413

 
$
262,190

 
$
360,765

Computation of fixed charges and combined fixed charges and preferred stock dividends and losses on purchases of preferred stock:
 
 
 
 
 
 
 
 
 
Interest expense
$
491,041

 
$
491,184

 
$
404,968

 
$
406,222

 
$
386,447

Amortized premiums, discounts and capitalized expenses related to indebtedness
98,589

 
109,860

 
102,883

 
84,047

 
59,435

Interest capitalized
1,832

 
2,335

 
265

 

 

Interest component of operating lease expense
171,195

 
124,093

 
112,755

 
110,026

 
105,406

Fixed charges
762,657

 
727,472

 
620,871

 
600,295

 
551,288

Dividends on preferred stock and losses on purchases of preferred stock
11,363

 
2,629

 
22,940

 
20,806

 
20,806

Combined fixed charges and preferred stock dividends and losses on purchases of preferred stock
$
774,020

 
$
730,101

 
$
643,811

 
$
621,101

 
$
572,094

Ratio of earnings to fixed charges
1.4

 
1.1

 
1.3

 

 

(Deficiency) excess of earnings to cover fixed charges
$
290,697

 
$
98,492

 
$
179,542

 
$
(338,105
)
 
$
(190,523
)
Ratio of earnings to combined fixed charges and preferred stock dividends and losses on purchases of preferred stock
1.4

 
1.1

 
1.2

 

 

(Deficiency) excess of earnings to cover combined fixed charges and preferred stock dividends and losses on purchases of preferred stock
$
279,334

 
$
95,863

 
$
156,602

 
$
(358,911
)
 
$
(211,329
)