Exhibit 12.1
NII HOLDINGS, INC.
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES
(dollars in thousands)
Three Months Ended | ||||||||
March 31, | ||||||||
2004 | 2003 | |||||||
Restated | Restated | |||||||
(Loss) income from continuing operations before income tax | $ | (31,107 | ) | $ | 23,101 | |||
Add: | ||||||||
Fixed charges | 21,044 | 18,715 | ||||||
Amortization of capitalized interest | 1,715 | 1,496 | ||||||
Less: | ||||||||
Interest capitalized | 581 | 1,863 | ||||||
Equity in (losses) gains of unconsolidated affiliates | — | — | ||||||
Losses attributable to minority interests | — | — | ||||||
Earnings as adjusted | $ | (8,929 | ) | $ | 41,449 | |||
Fixed charges: | ||||||||
Interest expense on indebtedness (including amortization of debt expense and discount) | $ | 16,199 | $ | 13,920 | ||||
Interest capitalized | 581 | 1,863 | ||||||
Portion of rent expense representative of interest (30%) | 4,264 | 2,932 | ||||||
Fixed charges | $ | 21,044 | $ | 18,715 | ||||
Ratio of earnings to fixed charges | — | 2.21 | ||||||
Deficiency of earnings to cover fixed charges | $ | 29,973 | $ | — | ||||