Nii (NIHD) 10-K 2005 FY Annual report

Exhibit 12.1

NII HOLDINGS, INC.
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES
(dollars in thousands)

				Ten Months		Two Months
	Year Ended			Ended		Ended		Year Ended December 31,
	December 31,			October 31,		December 31,
	2001			2002		2002		2003		2004		2005
(Loss) income from continuing operations before income tax	$	(2,378,590	)	$	1,986,590	$	27,973		132,841		135,510		300,576
Add:
Fixed charges		352,216			170,435		13,302		85,897		74,665		105,077
Amortization of capitalized interest		12,654			3,716		743		6,779		7,179		3,067
Less:
Interest capitalized		42,927			8,239		971		6,825		2,598		9,544
Equity in (losses) gains of unconsolidated affiliates		9,640			—		—		—		—		—
Losses attributable to minority interests		—			—		—		—		—
Earnings as adjusted	$	(2,066,287	)	$	2,152,502	$	41,047	$	218,692	$	214,755	$	399,176
Preferred stock dividends:		—			—		—		—		—		—
Effective income tax (benefit) provision rate		—			—		—		—		—		—
Preferred stock dividends on pretax basis		—			—		—		—		—		—
Fixed charges:
Interest expense on indebtedness (including amortization of debt expense and discount)	$	297,228		$	151,579	$	10,469		64,623		55,113		72,470
Interest capitalized		42,927			8,239		971		6,825		2,598		9,544
Portion of rent expense representative of interest (30%)		12,061			10,617		1,862		14,449		16,954		23,063
Fixed charges	$	352,216		$	170,435	$	13,302	$	85,897	$	74,665	$	105,077
Ratio of earnings to fixed charges		(5.87	)		12.63		3.09		2.55		2.88		3.80
Deficiency of earnings to cover fixed charges	$	2,418,503		$	—	$	—	$	—	$	—	$	—