Exhibit 12.1
SBA Communications Corporation
Ratio of Earnings/Deficiency to Fixed Charges
| Year ended December 31, | Three Months ended March 31, | |||||||||||||||||||||||||||
| 2002 | 2003 | 2004 | 2005 | 2006 | 2006 | 2007 | ||||||||||||||||||||||
| (dollars in thousands) | ||||||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Loss from continuing operations | $ | (202,032 | ) | $ | (173,076 | ) | $ | (143,313 | ) | $ | (92,544 | ) | $ | (132,931 | ) | $ | (9,032 | ) | $ | (16,302 | ) | |||||||
Plus: fixed charges, less preferred dividends | 96,703 | 104,728 | 86,076 | 80,413 | 115,945 | 18,315 | 29,550 | |||||||||||||||||||||
Total Earnings | (105,329 | ) | (68,278 | ) | (57,237 | ) | (12,131 | ) | (16,986 | ) | 9,283 | 13,248 | ||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest expense – cash | 54,822 | 81,501 | 47,460 | 40,511 | 81,283 | 9,213 | 23,137 | |||||||||||||||||||||
Capitalized Interest | 1,672 | 70 | 14 | 85 | 383 | 68 | 69 | |||||||||||||||||||||
Interest expense – non cash | 29,038 | 9,277 | 28,082 | 26,234 | 6,845 | 5,265 | — | |||||||||||||||||||||
Amortization of debt issue costs | 4,480 | 5,115 | 3,445 | 2,850 | 11,584 | 876 | 1,792 | |||||||||||||||||||||
Interest component of operating leases | 6,691 | 8,835 | 7,075 | 10,733 | 15,850 | 2,893 | 4,552 | |||||||||||||||||||||
Total fixed charges | 96,703 | 104,798 | 86,076 | 80,413 | 115,945 | 18,315 | 29,550 | |||||||||||||||||||||
Total deficiency | $ | 202,032 | $ | 173,076 | $ | 143,313 | $ | 92,544 | $ | 132,931 | $ | 9,032 | $ | 16,302 | ||||||||||||||
