Crown Castle (CCI) 8-K Entry into a Material Definitive Agreement

Exhibit 12.1

CROWN CASTLE INTERNATIONAL CORP.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND EARNINGS TO

COMBINED FIXED CHARGES AND DIVIDENDS ON PREFERRED STOCK

AND LOSSES ON PURCHASES OF PREFERRED STOCK

(DOLLARS IN THOUSANDS)

	Years Ended December 31,															Nine Months Ended September 30,
	2010			2011			2012			2013			2014			2015
Computation of earnings:
Income (loss) from continuing operations before income taxes	$	(358,991	)	$	151,196		$	64,853		$	251,001			335,070			373,181
Add:
Fixed charges (as computed below)		592,344			611,522			717,672			752,241			791,386			565,650
Subtract:
Interest capitalized		—			(265	)		(2,335	)		(1,832	)		(2,985	)		(3,372	)
	$	233,353		$	762,453		$	780,190		$	1,001,410		$	1,123,471		$	935,459
Computation of fixed charges and combined fixed charges and preferred stock dividends and losses on purchases of preferred stock:
Interest expense		406,222			404,968			491,184			491,041			491,581			364,579
Amortized premiums, discounts and capitalized expenses related to indebtedness		84,047			102,883			109,860			98,589			81,710			34,203
Interest capitalized		—			265			2,335			1,832			2,985			3,372
Interest component of operating lease expense		102,075			103,406			114,293			160,779			215,110			163,496
Fixed charges		592,344			611,522			717,672			752,241			791,386			565,650
Dividends on preferred stock and losses on purchases of preferred stock		20,806			22,940			2,629			11,363			43,988			32,991
Combined fixed charges and dividends on preferred stock and losses on purchases of preferred stock	$	613,150		$	634,462		$	720,301		$	763,604		$	835,374		$	598,641
Ratio of earnings to fixed charges		—			1.2			1.1			1.3			1.4			1.7
(Deficiency) excess of earnings to cover fixed charges	$	(358,991	)	$	150,931		$	62,518		$	249,169		$	332,085		$	369,809
Ratio of earnings to combined fixed charges and dividends on preferred stock and losses on purchases of preferred stock		—			1.2			1.1			1.3			1.3			1.6
(Deficiency) excess of earnings to cover fixed charges and preferred stock dividends and losses on purchases of preferred stock	$	(379,797	)	$	127,991		$	59,889		$	237,806		$	288,097		$	336,818