EX-12 3 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES COMPUTATION OF RATIO 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,  
     2009     2008     2007     2006     2005  

Computation of earnings:

           

Income (loss) before income taxes

    $ (190,523 )    $ (153,219 )    $ (317,003 )    $ (48,373 )    $ (392,043 ) 

Add:

           

Fixed charges (as computed below)

      551,288        458,477        454,731        211,188        178,982   

Subtract:

           

Interest capitalized

      —          —          (1,406 )      (1,295 )      —     
                                        
   $ 360,765      $ 305,258      $ 136,322      $ 161,520      $ (213,061 ) 
                                        

Computation of fixed charges and combined fixed charges and preferred stock dividends:

           

Interest expense

    $ 386,447      $ 332,058      $ 329,610      $ 153,722      $ 126,646   

Amortized premiums, discounts and capitalized interest expense related to indebtedness

      59,435        22,056        20,649        8,606        7,160   

Interest capitalized

      —          —          1,406        1,295        —     

Interest component of operating lease expense

      105,406        104,363        103,066        47,565        45,176   
                                        

Fixed charges

      551,288        458,477        454,731        211,188        178,982   

Dividends on preferred stock and losses on purchases of preferred stock

      20,806        20,806        20,805        20,806        49,356   
                                        

Combined fixed charges and preferred stock dividends

    $ 572,094      $ 479,283      $ 475,536      $ 231,994      $ 228,338   
                                        

Ratio of earnings to fixed charges

      —          —          —          —          —     
                                        

Deficiency of earnings to cover fixed charges

    $ 190,523      $ 153,219      $ 318,409      $ 49,668      $ 392,043   
                                        

Ratio of earnings to combined fixed charges and preferred stock dividends

      —          —          —          —          —     
                                        

Deficiency of earnings to cover combined fixed charges and preferred stock dividends

    $ 211,329      $ 174,025      $ 339,214      $ 70,474      $ 441,399