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Exhibit 12
SINCLAIR BROADCAST GROUP, INC AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
FOR THE YEARS ENDED DECEMBER 31, 2001, 2000 AND 1999
(DOLLARS IN THOUSANDS)
| | 2001 | 2000 | 1999 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Income (loss) before provision (benefit) for income taxes from continuing operations | $ | (165,194 | ) | $ | (30,959 | ) | $ | (17,019 | ) | |
| Fixed charges(a) | 143,574 | 152,219 | 181,569 | |||||||
| Earnings available for fixed charges and preferred stock dividends | (21,620 | ) | 121,260 | 164,550 | ||||||
| Fixed charges(a) | 143,574 | 152,219 | 181,569 | |||||||
| Excess of fixed charges over earnings(b) | $ | (165,194 | ) | $ | (30,959 | ) | $ | (17,019 | ) | |
Ratio of earnings to fixed charges | — | — | — | |||||||
| Combined fixed charges and preferred stock dividends(c) | 159,497 | 169,341 | 198,691 | |||||||
| Excess of fixed charges and preferred stock dividends over earnings | $ | (181,117 | ) | $ | (48,081 | ) | $ | (34,141 | ) | |
| Ratio of earnings to combined fixed charges and preferred stock dividends | — | — | — | |||||||
- (a)
- Fixed charges consist of interest expense, which includes interest on all debt and amortization of debt discount, capitalized interest and amortization of deferred financing costs.
- (b)
- Earnings were inadequate to cover fixed charges for the years ended December 31, 2001, 2000 and 1999. Additional earnings of $165,194, $30,959 and $17,019 would have been required to cover fixed charges in the years ended December 31, 2001, 2000 and 1999, respectively.
- (c)
- Combined fixed charges and preferred stock dividends consist of interest expense, which includes interest on all debt and amortization of debt discount, capitalized interest and deferred financing costs and preferred stock dividends. Preferred stock dividends are divided by (1-effective tax rate) with the tax rate being 39.55% for years ended December 31, 1999 and 2000. The effective tax rate for the year ended December 31, 2001 was 35.0%.
SINCLAIR BROADCAST GROUP, INC AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS FOR THE YEARS ENDED DECEMBER 31, 2001, 2000 AND 1999 (DOLLARS IN THOUSANDS)