American Tower (AMT) 10-K 2010 FY Annual report

Exhibit 12

STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Ratio of Earnings to Fixed Charges

American Tower Corporation

The following table reflects the computation of the ratio of earnings to fixed charges for the periods presented (in thousands):

	Year Ended December 31
	2006		2007		2008		2009		2010
Computation of Earnings:
(Loss) income from continuing operations before income taxes and income on equity method investments	$	70,864	$	152,840	$	371,920	$	421,487	$	556,025
Add:
Interest expense (1)		217,134		237,314		255,073		251,291		247,504
Operating leases		71,092		73,916		79,189		82,522		90,001
Amortization of interest capitalized		2,600		2,622		2,692		2,751		2,819
Earnings as adjusted		361,690		466,692		708,874		758,051		896,349
Computation of fixed charges:
Interest expense		217,134		237,314		255,073		251,291		247,504
Interest capitalized		651		—		770		495		1,011
Operating leases		71,092		73,916		79,189		82,522		90,001
Fixed charges		288,877		311,230		335,032		334,308		338,516
Excess in earnings required to cover fixed charges	$	72,813	$	155,462	$	373,842	$	423,743	$	557,833
Ratio of earnings to fixed charges (2)		1.25		1.50		2.12		2.27		2.65

(1) Interest expense includes amortization of deferred financing costs. Interest expense also includes an amount related to our capital lease with TV Azteca.

(2) For the purpose of this calculation, “earnings” consists of (loss) income from continuing operations before income taxes, income on equity method investments, fixed charges (excluding interest capitalized and amortization of interest capitalized). “Fixed charges” consist of interest expensed and capitalized, amortization of debt discount and related issuance costs and the component of rental expense associated with operating leases believed by management to be representative of the interest factor thereon.