EXHIBIT 12.1
CROWN CASTLE INTERNATIONAL CORP.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND
EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(DOLLARS IN THOUSANDS)
| THREE MONTHS ENDED MARCH 31, | ||||||||
| 2003 | 2004 | |||||||
| (As restated) | ||||||||
Computation of Earnings: | ||||||||
Income (loss) before income taxes, minority interests and cumulative effect of change in accounting principle | $ | (74,057 | ) | $ | (70,051 | ) | ||
Add: | ||||||||
Fixed charges (as computed below) | 86,287 | 74,512 | ||||||
| $ | 12,230 | $ | 4,461 | |||||
Computation of Fixed Charges and Combined Fixed Charges and Preferred Stock Dividends: | ||||||||
Interest expense | $ | 55,150 | $ | 56,546 | ||||
Amortization of deferred financing costs and discounts on long-term debt | 17,488 | 2,960 | ||||||
Interest component of operating lease expense | 13,649 | 15,006 | ||||||
Fixed charges | 86,287 | 74,512 | ||||||
Preferred stock dividends | 14,958 | 9,696 | ||||||
Combined fixed charges and preferred stock dividends | $ | 101,245 | $ | 84,208 | ||||
Ratio of Earnings to Fixed Charges | — | — | ||||||
Deficiency of Earnings to Cover Fixed Charges | $ | 74,057 | $ | 70,051 | ||||
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends | — | — | ||||||
Deficiency of Earnings to Cover Combined Fixed Charges and Preferred Stock Dividends | $ | 89,015 | $ | 79,747 | ||||
