EX-12 3 c48595exv12.htm EX-12 exv12
EXHIBIT 12
EMMIS COMMUNICATIONS CORPORATION AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited, dollars in thousands)
                                 
    Three Months Ended November 30,   Nine Months Ended November 30,
    2007   2008   2007   2008
EARNINGS:
                                
Pre-tax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees
   $ (6,260 )   $ (203,320 )   $ 5,657     $ (187,921 )
Add:
                                
Fixed charges
     11,633       9,690       35,552       29,226  
Less:
                                
Preferred stock dividends
     2,246       2,246       6,738       6,738  
         
Earnings
   $ 3,127     $ (195,876 )   $ 34,471     $ (165,433 )
 
                                
FIXED CHARGES:
                                
Interest expense (including amortization of debt expenses)
   $ 8,692     $ 6,732     $ 26,678     $ 20,353  
Portion of rents representative of the interest factor
     695       712       2,136       2,135  
Preferred stock dividends
     2,246       2,246       6,738       6,738  
         
Fixed Charges
   $ 11,633     $ 9,690     $ 35,552     $ 29,226  
 
                                
Ratio of Earnings to Fixed Charges
     N/A       N/A       N/A       N/A  
         
 
                                
Deficiency
   $ 8,506     $ 205,566     $ 1,081     $ 194,659