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,															Six Months Ended June 30,
	2011			2012			2013			2014			2015			2016
Computation of earnings:
Income (loss) from continuing operations before income taxes	$	151,196		$	64,853		$	251,001			335,070			473,829			141,654
Add:
Fixed charges (as computed below)		611,522			717,672			752,241			791,386			750,968			371,404
Subtract:
Interest capitalized		(265	)		(2,335	)		(1,832	)		(2,985	)		(4,805	)		(3,079	)
	$	762,453		$	780,190		$	1,001,410		$	1,123,471		$	1,219,992		$	509,979
Computation of fixed charges and combined fixed charges and preferred stock dividends and losses on purchases of preferred stock:
Interest expense		404,968			491,184			491,041			491,581			487,355			245,819
Amortized premiums, discounts and capitalized expenses related to indebtedness		102,883			109,860			98,589			81,710			39,773			9,921
Interest capitalized		265			2,335			1,832			2,985			4,805			3,079
Interest component of operating lease expense		103,406			114,293			160,779			215,110			219,035			112,585
Fixed charges		611,522			717,672			752,241			791,386			750,968			371,404
Dividends on preferred stock and losses on purchases of preferred stock		22,940			2,629			11,363			43,988			43,988			21,994
Combined fixed charges and dividends on preferred stock and losses on purchases of preferred stock	$	634,462		$	720,301		$	763,604		$	835,374		$	794,956		$	393,398
Ratio of earnings to fixed charges		1.2			1.1			1.3			1.4			1.6			1.4
(Deficiency) excess of earnings to cover fixed charges	$	150,931		$	62,518		$	249,169		$	332,085		$	469,024		$	138,575
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			1.5			1.3
(Deficiency) excess of earnings to cover fixed charges and preferred stock dividends and losses on purchases of preferred stock	$	127,991		$	59,889		$	237,806		$	288,097		$	425,036		$	116,581