EXHIBIT 12.1
Ratio/Deficiency of Earnings to Fixed Charges
SBA COMMUNICATIONS CORPORATION:
Year Ended 12/31/08 | Year Ended 12/31/09 | Year Ended 12/31/10 | Year Ended 12/31/11 | Year Ended 12/31/12 | Three Months Ended 3/31/12 | Three Months Ended 3/31/13 | ||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Loss from continuing ops before taxes | (66,127 | ) | (140,627 | ) | (193,416 | ) | (124,779 | ) | (177,092 | ) | (21,324 | ) | (23,017 | ) | ||||||||||||||
Plus: Fixed charges, less preferred dividends | 137,661 | 215,644 | 244,600 | 261,529 | 317, 376 | 69,121 | 95,137 | |||||||||||||||||||||
Plus: Current period amortization of interest capitalized in prior periods | 519 | 538 | 543 | 549 | 604 | 148 | 147 | |||||||||||||||||||||
Less: Capitalized interest | (223 | ) | (225 | ) | (391 | ) | (225 | ) | (318 | ) | (68 | ) | (117 | ) | ||||||||||||||
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Total Earnings | 71,830 | 75,330 | 51,336 | 137,074 | 140,569 | 47,877 | 72,149 | |||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest Expense – cash | 104,253 | 130,853 | 149,921 | 160,896 | 196,241 | 42,248 | 59,465 | |||||||||||||||||||||
Capitalized interest | 223 | 225 | 391 | 225 | 318 | 68 | 117 | |||||||||||||||||||||
Interest Expense – non cash | 412 | 49,897 | 60,070 | 63,629 | 70,110 | 16,991 | 17,364 | |||||||||||||||||||||
Amortization of Debt Issue Costs | 11,671 | 10,456 | 9,099 | 9,188 | 12,870 | 2,433 | 3,604 | |||||||||||||||||||||
Interest Component of Operating Leases | 21,102 | 24,213 | 25,119 | 27,591 | 37,836 | 7,381 | 14,586 | |||||||||||||||||||||
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Total Fixed Charges | 137,661 | 215,644 | 244,600 | 261,529 | 317,376 | 69,121 | 95,137 | |||||||||||||||||||||
Total Deficiency | $ | 65,831 | $ | 140,314 | $ | 193,264 | $ | 124,455 | $ | 176,807 | $ | 21,244 | $ | 22,988 | ||||||||||||||
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SBA TELECOMMUNICATIONS, LLC:
Year Ended 12/31/08 | Year Ended 12/31/09 | Year Ended 12/31/10 | Year Ended 12/31/11 | Year Ended 12/31/12 | Three Months Ended 3/31/12 | Three Months Ended 3/31/13 | ||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Loss from continuing ops before taxes | (53,126 | ) | (75,337 | ) | (110,884 | ) | (21,365 | ) | (61,312 | ) | 4,486 | 11,826 | ||||||||||||||||
Plus: Fixed charges, less preferred dividends | 127,804 | 148,630 | 156,364 | 164,206 | 205,944 | 43,690 | 62,345 | |||||||||||||||||||||
Plus: Current period amortization of interest capitalized in prior periods | 519 | 538 | 543 | 549 | 604 | 148 | 147 | |||||||||||||||||||||
Less: Capitalized interest | (223 | ) | (225 | ) | (391 | ) | (225 | ) | (318 | ) | (68 | ) | (117 | ) | ||||||||||||||
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Total Earnings | 74,974 | 73,606 | 45,631 | 143,165 | 144,917 | 48,255 | 74,200 | |||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest Expense – cash | 98,061 | 114,372 | 123,491 | 130,584 | 158,669 | 34,670 | 44,934 | |||||||||||||||||||||
Capitalized interest | 223 | 225 | 391 | 225 | 318 | 68 | 117 | |||||||||||||||||||||
Interest Expense – non cash | 412 | 1,831 | 1,308 | (111 | ) | (198 | ) | (63 | ) | 116 | ||||||||||||||||||
Amortization of Debt Issue Costs | 8,006 | 8,045 | 6,098 | 5,946 | 9,318 | 1,606 | 2,591 | |||||||||||||||||||||
Interest Component of Operating Leases | 21,102 | 24,158 | 25,075 | 27,562 | 37,836 | 7,408 | 14,586 | |||||||||||||||||||||
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Total Fixed Charges | 127,804 | 148,630 | 156,364 | 164,206 | 205,944 | 43,690 | 62,345 | |||||||||||||||||||||
Total Deficiency | $ | 52,830 | $ | 75,024 | $ | 110,732 | $ | 21,041 | $ | 61,027 | $ | (4,566 | ) | $ | (11,855 | ) | ||||||||||||
Ratio of Earnings to Charges | — | — | — | — | — | 1.1 | 1.2 |