Exhibit 12.1
| NII HOLDINGS, INC. | |||||||
| STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES | |||||||
| (dollars in thousands) | |||||||
| Three Months Ended March 31, | |||||||
| 2013 (1) | 2012 | ||||||
| (Loss) income from continuing operations before income tax | $ | (186,624 | ) | $ | 78,854 | ||
| Add: | |||||||
| Fixed charges | 160,769 | 151,835 | |||||
| Amortization of capitalized interest | 10,305 | 6,632 | |||||
| Less: | |||||||
| Interest capitalized | 23,620 | 40,572 | |||||
| Equity in (losses) gains of unconsolidated affiliates | — | — | |||||
| Losses attributable to minority interests | — | — | |||||
| (Losses) earnings as adjusted | $ | (39,170 | ) | $ | 196,749 | ||
| Fixed charges: | |||||||
| Interest expense on indebtedness (including amortization of debt expense and discount) | $ | 109,852 | $ | 88,613 | |||
| Interest capitalized | 23,620 | 40,572 | |||||
| Portion of rent expense representative of interest (30%) | 27,297 | 22,650 | |||||
| Fixed charges | $ | 160,769 | $ | 151,835 | |||
| Ratio of earnings to fixed charges | — | 1.30 | |||||
(1) Due to our loss from continuing operations before income tax for the three months ended March 31, 2013, the ratio coverage was less than 1:1 for this period. We would have needed to generate approximately an additional $200.0 million in income from continuing operations before income tax to achieve coverage of 1:1 for the three months ended March 31, 2013.