EX-12 2 c01300exv12.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 November 30,     Nine Months Ended November 30,  
    2004     2005     2004     2005  
EARNINGS:
                                
Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees
   $ 13,013     $ 4,926     $ (64,041 )   $ 25,622  
Add:
                                
Fixed charges
     11,320       23,419       38,651       57,729  
Amortization of capitalized interest
     18       18       55       55  
Less:
                                
Capitalized interest
     —       —       —       —  
Preferred stock dividends
     2,246       2,246       6,738       6,738  
         
Earnings
   $ 22,105     $ 26,117     $ (32,073 )   $ 76,668  
 
                                
FIXED CHARGES:
                                
Interest expense (including amortization of debt expenses)
   $ 8,469     $ 20,487     $ 30,122     $ 49,073  
Capitalized interest
     —       —       —       —  
Portion of rents representative of the interest factor
     605       686       1,791       1,918  
Preferred stock dividends
     2,246       2,246       6,738       6,738  
         
Fixed Charges
   $ 11,320     $ 23,419     $ 38,651     $ 57,729  
 
                                
Ratio of Earnings to Fixed Charges
     2.0       1.1       N/A       1.3  
         
 
                                
Deficiency
   $ —     $ —     $ 70,724     $ —