EX-12 6 dex12.htm COMPUTATION OF RATIOS OF EARNINGS Computation of Ratios of 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,

 
     1999

    2000

    2001

    2002

    2003

 

Computation of Earnings:

                                        

Income (loss) before income taxes, minority interests and cumulative effect of changes in accounting principles

   $ (91,316 )   $ (203,819 )   $ (350,995 )   $ (262,743 )   $ (386,418 )

Add:

                                        

Fixed charges (as computed below)

     126,675       271,994       329,482       350,593       344,213  
    


 


 


 


 


     $ 35,359     $ 68,175     $ (21,513 )   $ 87,850     $ (42,205 )
    


 


 


 


 


Computation of Fixed Charges and Combined

                                        

Fixed Charges and Preferred Stock Dividends:

                                        

Interest expense

   $ 60,971     $ 160,291     $ 205,691     $ 208,003     $ 216,207  

Amortization of deferred financing costs, discounts on long-term debt and dividends on preferred stock

     49,937       81,003       91,753       94,567       73,440  

Interest component of operating lease expense

     15,767       30,700       32,038       48,023       54,566  
    


 


 


 


 


Fixed charges

     126,675       271,994       329,482       350,593       344,213  

Preferred stock dividends

     28,881       59,469       79,028       (19,638 )     53,945  
    


 


 


 


 


Combined fixed charges and preferred stock dividends

   $ 155,556     $ 331,463     $ 408,510     $ 330,955     $ 398,158  
    


 


 


 


 


Ratio of Earnings to Fixed Charges

     —         —         —         —         —    
    


 


 


 


 


Deficiency of Earnings to Cover Fixed Charges

   $ 91,316     $ 203,819     $ 350,995     $ 262,743     $ 386,418  
    


 


 


 


 


Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

     —         —         —         —         —    
    


 


 


 


 


Deficiency of Earnings to Cover Combined Fixed Charges and Preferred Stock Dividends

   $ 120,197     $ 263,288     $ 430,023     $ 243,105     $ 440,363