EX-12 4 c08972exv12.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12
 

Exhibit 12
EMMIS COMMUNICATIONS CORPORATION AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited, dollars in thousands)
                                 
    Three Months Ended August 31,   Six Months Ended August 31,
    2005   2006   2005   2006
         
EARNINGS:
                                
Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees
   $ 9,417     $ 10,310     $ 18,396     $ 11,201  
Add:
                                
Fixed charges
     21,159       14,455       34,279       29,892  
Amortization of capitalized interest
     18       18       37       37  
Less:
                                
Capitalized interest
     —       —       —       —  
Preferred stock dividends
     2,246       2,246       4,492       4,492  
         
Earnings
   $ 28,348     $ 22,537     $ 48,220     $ 36,638  
 
                                
FIXED CHARGES:
                                
Interest expense (including amortization of debt expenses)
   $ 18,341     $ 11,554     $ 28,586     $ 24,116  
Capitalized interest
     —       —       —       —  
Portion of rents representative of the interest factor
     572       655       1,201       1,284  
Preferred stock dividends
     2,246       2,246       4,492       4,492  
         
Fixed Charges
   $ 21,159     $ 14,455     $ 34,279     $ 29,892  
 
                                
Ratio of Earnings to Fixed Charges
     1.3       1.6       1.4       1.2  
         
 
                                
Deficiency
   $ —     $ —     $ —     $ —