Exhibit 12.1
NII HOLDINGS, INC. | ||
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS | ||
TO FIXED CHARGES | ||
(dollars in thousands) |
Three Months Ended | ||||||||
June 30, | ||||||||
2004 | 2003 | |||||||
Restated | Restated | |||||||
Income from continuing operations before income tax | $ | 49,270 | $ | 46,082 | ||||
Add: | ||||||||
Fixed charges | 15,586 | 22,177 | ||||||
Amortization of capitalized interest | 1,715 | 1,496 | ||||||
Less: | ||||||||
Interest capitalized | 528 | 1,650 | ||||||
Equity in (losses) gains of unconsolidated affiliates | — | — | ||||||
Losses attributable to minority interests | — | — | ||||||
Earnings as adjusted | $ | 66,042 | $ | 68,104 | ||||
Fixed charges: | ||||||||
Interest expense on indebtedness (including amortization of debt expense and discount) | $ | 10,729 | $ | 17,003 | ||||
Interest capitalized | 528 | 1,650 | ||||||
Portion of rent expense representative of interest (30%) | 4,329 | 3,524 | ||||||
Fixed charges | $ | 15,586 | $ | 22,177 | ||||
Ratio of earnings to fixed charges | 4.24 | 3.07 | ||||||
Deficiency of earnings to cover fixed charges | $ | — | $ | — | ||||