EX-12 3 ex12123110.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES WebFilings | EDGAR view
 

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,
 
2010
 
2009
 
2008
 
2007
 
2006
Computation of earnings:
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
$
(338,105
)
 
$
(190,523
)
 
$
(153,219
)
 
$
(317,003
)
 
$
(48,373
)
Add:
 
 
 
 
 
 
 
 
 
Fixed charges (as computed below)
600,295
 
 
551,288
 
 
458,477
 
 
454,731
 
 
211,188
 
Subtract:
 
 
 
 
 
 
 
 
 
Interest capitalized
—
 
 
—
 
 
—
 
 
(1,406
)
 
(1,295
)
 
$
262,190
 
 
$
360,765
 
 
$
305,258
 
 
$
136,322
 
 
$
161,520
 
Computation of fixed charges and combined fixed charges and preferred stock dividends:
 
 
 
 
 
 
 
 
 
Interest expense
$
406,222
 
 
$
386,447
 
 
$
332,058
 
 
$
329,610
 
 
$
153,722
 
Amortized premiums, discounts and capitalized interest expense related to indebtedness
84,047
 
 
59,435
 
 
22,056
 
 
20,649
 
 
8,606
 
Interest capitalized
—
 
 
—
 
 
—
 
 
1,406
 
 
1,295
 
Interest component of operating lease expense
110,026
 
 
105,406
 
 
104,363
 
 
103,066
 
 
47,565
 
Fixed charges
600,295
 
 
551,288
 
 
458,477
 
 
454,731
 
 
211,188
 
Dividends on preferred stock and losses on purchases of preferred stock
20,806
 
 
20,806
 
 
20,806
 
 
20,805
 
 
20,806
 
Combined fixed charges and preferred stock dividends
$
621,101
 
 
$
572,094
 
 
$
479,283
 
 
$
475,536
 
 
$
231,994
 
Ratio of earnings to fixed charges
—
 
 
—
 
 
—
 
 
—
 
 
—
 
Deficiency of earnings to cover fixed charges
$
338,105
 
 
$
190,523
 
 
$
153,219
 
 
$
318,409
 
 
$
49,668
 
Ratio of earnings to combined fixed charges and preferred stock dividends
—
 
 
—
 
 
—
 
 
—
 
 
—
 
Deficiency of earnings to cover combined fixed charges and preferred stock dividends
$
358,911
 
 
$
211,329
 
 
$
174,025
 
 
$
339,214
 
 
$
70,474