EXHIBIT 11.1
CROWN CASTLE INTERNATIONAL CORP.
COMPUTATION OF NET LOSS
PER COMMON SHARE
(IN THOUSANDS OF DOLLARS, EXCEPT PER SHARE AMOUNTS)
| THREE MONTHS ENDED SEPTEMBER 30, | NINE MONTHS ENDED SEPTEMBER 30, | |||||||||||||||
| 2003 | 2004 | 2003 | 2004 | |||||||||||||
| (As restated) | (As restated) | |||||||||||||||
Loss from continuing operations before cumulative effect of change in accounting principle | $ | (124,057 | ) | $ | (59,793 | ) | $ | (304,711 | ) | $ | (218,209 | ) | ||||
Dividends on preferred stock, net of gains (losses) on purchases of preferred stock | (9,496 | ) | (9,836 | ) | (45,900 | ) | (28,864 | ) | ||||||||
Loss from continuing operations before cumulative effect of change in accounting principle applicable to common stock for basic and diluted computations | (133,553 | ) | (69,629 | ) | (350,611 | ) | (247,073 | ) | ||||||||
Income from discontinued operations | 5,076 | 510,449 | 12,617 | 541,448 | ||||||||||||
Cumulative effect of change in accounting principle | — | — | (551 | ) | — | |||||||||||
Net income (loss) applicable to common stock for basic and diluted computations | $ | (128,477 | ) | $ | 440,820 | $ | (338,545 | ) | $ | 294,375 | ||||||
Weighted-average number of common shares outstanding during the period for basic and diluted computations (in thousands) | 216,621 | 222,841 | 216,516 | 221,329 | ||||||||||||
Per common share—basic and diluted: | ||||||||||||||||
Loss from continuing operations before cumulative effect of change in accounting principle | $ | (0.62 | ) | $ | (0.31 | ) | $ | (1.62 | ) | $ | (1.12 | ) | ||||
Income from discontinued operations | 0.03 | 2.29 | 0.06 | 2.45 | ||||||||||||
Cumulative effect of change in accounting principle | — | — | (0.01 | ) | — | |||||||||||
Net income (loss) | $ | (0.59 | ) | $ | 1.98 | $ | (1.57 | ) | $ | 1.33 | ||||||
