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)
NINE MONTHS ENDED SEPTEMBER 30, | ||||||||
| 2003 | 2004 | |||||||
| (As restated) | ||||||||
Computation of Earnings: | ||||||||
Income (loss) from continuing operations before income taxes, minority interests and cumulative effect of change accounting principle | $ | (306,791 | ) | $ | (222,776 | ) | ||
Add: | ||||||||
Fixed charges (as computed below) | 220,363 | 197,521 | ||||||
| $ | (86,428 | ) | $ | (25,255 | ) | |||
Computation of Fixed Charges and Combined Fixed Charges and Preferred Stock Dividends: | ||||||||
Interest expense | $ | 135,204 | $ | 158,193 | ||||
Amortization of deferred financing costs, discounts on long-term debt and dividends on preferred stock | 54,724 | 7,978 | ||||||
Interest component of operating lease expense | 30,435 | 31,350 | ||||||
Fixed charges | 220,363 | 197,521 | ||||||
Preferred stock dividends | 45,900 | 28,864 | ||||||
Combined fixed charges and preferred stock dividends | $ | 266,263 | $ | 226,385 | ||||
Ratio of Earnings to Fixed Charges | — | — | ||||||
Deficiency of Earnings to Cover Fixed Charges | $ | 306,791 | $ | 222,776 | ||||
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends | — | — | ||||||
Deficiency of Earnings to Cover Combined Fixed Charges and Preferred Stock Dividends | $ | 352,691 | $ | 251,640 | ||||
