EX-12 2 c16511exv12.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS exv12
 

EXHIBIT 12
EMMIS COMMUNICATIONS CORPORATION AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited, dollars in thousands)
                 
    Three Months Ended May 31,
    2006   2007
EARNINGS:
                
Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees
   $ 996     $ 2,671  
Add:
                
Fixed charges
     15,437       12,314  
Less:
                
Preferred stock dividends
     2,246       2,246  
     
Earnings
   $ 14,187     $ 12,739  
 
                
FIXED CHARGES:
                
Interest expense (including amortization of debt expenses)
   $ 12,562     $ 9,332  
Portion of rents representative of the interest factor
     629       736  
Preferred stock dividends
     2,246       2,246  
     
Fixed Charges
   $ 15,437     $ 12,314  
 
                
Ratio of Earnings to Fixed Charges
     N/A       1.0  
     
 
                
Deficiency
   $ 1,250     $ —