EX-12 2 c52200exv12.htm EX-12 exv12
Exhibit 12
EMMIS COMMUNICATIONS CORPORATION AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited, dollars in thousands)
                 
    Three Months Ended May 31,
    2008   2009
Earnings1
   $ 6,764     $ 21,819  
Plus: Fixed charges
     10,030       8,478  
Less: Preferred stock dividends
     (2,246 )     (2,195 )
       
Adjusted Earnings
   $ 14,548     $ 28,102  
 
                
Fixed Charges:
                
Interest expense (including amortization of debt expenses)
   $ 7,057     $ 5,619  
One-third of rental expense2
     727       664  
Preferred stock dividends
     2,246       2,195  
       
Total Fixed Charges
   $ 10,030     $ 8,478  
 
                
Ratio of Earnings to Fixed Charges
     1.5       3.3  
       
 
1   Earnings before income taxes, noncontrolling interests, discontinued operations and earnings of equity investees.
 
2   Considered to be representative of interest factor in rental expense.