EX-12.1 3 d466787dex121.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement Regarding Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

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)

 

     Nine Months Ended September 30,     Years Ended December 31,  
     2012     2011     2011     2010     2009     2008     2007  

Computation of earnings:

              

Income (loss) before income taxes

   $ 181,095      $ 130,284      $ 179,807      $ (338,105   $ (190,523   $ (153,219   $ (317,003

Add:

              

Fixed charges (as computed below)

     520,687        465,259        620,871        600,295        551,288        458,477        454,731   

Subtract:

              

Interest capitalized

     (1,865     (111     (265     —          —          —          (1,406
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
   $ 699,917      $ 595,432      $ 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

   $ 353,701      $ 303,067      $ 404,968      $ 406,222      $ 386,447      $ 332,058      $ 329,610   

Amortized premiums, discounts and capitalized interest expense related to indebtedness

     75,525        77,332        102,883        84,047        59,435        22,056        20,649   

Interest capitalized

     1,865        111        265        0        0        0        1,406   

Interest component of operating lease expense

     89,596        84,749        112,755        110,026        105,406        104,363        103,066   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges

     520,687        465,259        620,871        600,295        551,288        458,477        454,731   

Dividends on preferred stock and losses on purchases of preferred stock

     2,629        17,944        22,940        20,806        20,806        20,806        20,805   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Combined fixed charges and preferred stock dividends and losses on purchases of preferred stock

   $ 523,316      $ 483,203      $ 643,811      $ 621,101      $ 572,094      $ 479,283      $ 475,536   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

     1.3        1.3        1.3        0        0        0        0   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

(Deficiency) excess of earnings to cover fixed charges

   $ 179,230      $ 130,173      $ 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

     1.3        1.2        1.2        0        0        0        0   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

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

   $ 176,601      $ 112,229      $ 156,602      $ (358,911   $ (211,329   $ (174,025   $ (339,214