EX-12 3 dex12.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Computation of Ratios of Earnings to Fixed Charges

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,

 
     2000

    2001

    2002

    2003

    2004

 

Computation of Earnings:

                                        

Income (loss) from continuing operations before income taxes, minority interests and cumulative effect of change in accounting principle

   $ (239,041 )   $ (374,250 )   $ (336,895 )   $ (466,340 )   $ (312,468 )

Add:

                                        

Fixed charges (as computed below)

     237,189       300,772       314,475       300,634       250,037  
    


 


 


 


 


     $ (1,852 )   $ (73,478 )   $ (22,420 )   $ (165,706 )   $ (62,431 )
    


 


 


 


 


Computation of Fixed Charges and Combined

                                        

Fixed Charges and Preferred Stock Dividends:

                                        

Interest expense

   $ 129,723     $ 180,990     $ 180,484     $ 186,675     $ 197,258  

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

     79,608       89,776       93,411       72,159       9,512  

Interest component of operating lease expense

     27,858       30,006       40,580       41,800       43,267  
    


 


 


 


 


Fixed charges

     237,189       300,772       314,475       300,634       250,037  

Preferred stock dividends

     59,469       79,028       (16,023 )     55,897       38,618  
    


 


 


 


 


Combined fixed charges and preferred stock dividends

   $ 296,658     $ 379,800     $ 298,452     $ 356,531     $ 288,655  
    


 


 


 


 


Ratio of Earnings to Fixed Charges

     —         —         —         —         —    
    


 


 


 


 


Deficiency of Earnings to Cover Fixed Charges

   $ 239,041     $ 374,250     $ 336,895     $ 466,340     $ 312,468  
    


 


 


 


 


Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

     —         —         —         —         —    
    


 


 


 


 


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

   $ 298,510     $ 453,278     $ 320,872     $ 522,237     $ 351,086