EX-12.1 3 a2225633zex-12_1.htm EX-12.1

Exhibit 12.1

 

Consolidated Communications Holdings, Inc.

Statement of Computation of Ratio of Earnings to Fixed Charges

(Dollars in thousands)

 

 

 

Historical

 

Pro Forma

 

 

 

Year Ended December 31,

 

Six Months
Ended

 

Year Ended
December 31,

 

 

 

2010

 

2011

 

2012

 

2013

 

2014

 

June 30, 2015

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before income taxes, excluding income or loss from equity investments

 

$

21,988

 

$

20,710

 

$

(10,965

)

$

26,674

 

$

8,659

 

$

(23,153

)

$

40,396

 

Plus:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

52,142

 

50,365

 

74,229

 

87,808

 

84,858

 

42,705

 

85,129

 

Distributed income from equity investments

 

15,600

 

17,200

 

15,000

 

17,900

 

19,800

 

9,300

 

19,800

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest capitalized

 

160

 

135

 

515

 

1,215

 

1,437

 

756

 

1,437

 

Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges

 

557

 

572

 

531

 

330

 

321

 

59

 

321

 

TOTAL EARNINGS

 

$

89,012

 

$

87,567

 

$

77,218

 

$

130,837

 

$

111,559

 

$

28,037

 

$

143,567

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

All interest charges, whether expensed or capitalized

 

$

49,727

 

$

48,261

 

$

66,912

 

$

84,840

 

$

79,636

 

$

40,091

 

$

80,195

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of debt issue costs and discount or premium relating to indebtedness, whether expensed or capitalized

 

1,293

 

1,411

 

6,360

 

2,209

 

4,364

 

1,822

 

3,275

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest portion of rental expense

 

1,122

 

693

 

957

 

759

 

858

 

791

 

1,659

 

TOTAL FIXED CHARGES

 

$

52,142

 

$

50,365

 

$

74,229

 

$

87,808

 

$

84,858

 

$

42,705

 

$

85,129

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

1.71

 

1.74

 

1.04

 

1.49

 

1.31

 

0.66

 

1.69