EX-12 3 c46843exv12.htm EXHIBIT 12 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,
    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
   $ 8,726     $ 9,330     $ 11,917     $ 15,399  
Add:
                                
Fixed charges
     11,618       9,499       23,919       19,536  
Less:
                                
Preferred stock dividends
     2,246       2,246       4,492       4,492  
         
Earnings
   $ 18,098     $ 16,583     $ 31,344     $ 30,443  
 
                                
FIXED CHARGES:
                                
Interest expense (including amortization of debt expenses)
   $ 8,654     $ 6,564     $ 17,986     $ 13,621  
Portion of rents representative of the interest factor
     718       689       1,441       1,423  
Preferred stock dividends
     2,246       2,246       4,492       4,492  
         
Fixed Charges
   $ 11,618     $ 9,499     $ 23,919     $ 19,536  
 
                                
Ratio of Earnings to Fixed Charges
     1.6       1.7       1.3       1.6