Exhibit 12.1
RATIO OF CONSOLIDATED EARNINGS TO FIXED CHARGES
CHARTER COMMUNICATIONS, INC. AND SUBSIDIARIES
(Dollars in millions)
For the Years Ended December 31, | For the Nine Months Ended September 30, | |||||||||||||||||||
Predecessor 2007 | Predecessor 2008 | Combined 2009(2) | Predecessor 2009 | Successor 2010 | ||||||||||||||||
Earnings | ||||||||||||||||||||
Income (Loss) from Operations before Noncontrolling Interest and Income Taxes | $ | (1,318 | ) | $ | (2,550 | ) | $ | 9,758 | $ | (3,367 | ) | $ | 59 | |||||||
Fixed Charges | 1,868 | 1,912 | 1,384 | 1,102 | 651 | |||||||||||||||
Total Earnings | $ | 550 | $ | (638 | ) | $ | 11,142 | $ | (2,265 | ) | $ | 710 | ||||||||
Fixed Charges | ||||||||||||||||||||
Interest Expense | $ | 1,831 | $ | 1,872 | $ | 1,067 | $ | 867 | $ | 630 | ||||||||||
Interest Expense Included Within Reorganization Items, Net | — | — | 289 | 211 | -- | |||||||||||||||
Amortization of Debt Costs | 30 | 33 | 21 | 18 | 15 | |||||||||||||||
Interest Element of Rentals | 7 | 7 | 7 | 6 | 6 | |||||||||||||||
Total Fixed Charges | $ | 1,868 | $ | 1,912 | $ | 1,384 | $ | 1,102 | $ | 651 | ||||||||||
Ratio of Earnings to Fixed Charges(1) | — | — | 8.05 | x | -- | 1.09 | x |
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(1) | Earnings for the years ended December 31, 2007 and 2008 and nine months ended September 30, 2009 were insufficient to cover fixed charges by $1.3 billion, $2.6 billion and $3.4 billion, respectively. As a result of such deficiencies, the ratios are not presented above. |
(2) | Upon our emergence from bankruptcy, we adopted fresh start accounting, which resulted in us recording a $11.8 billion gain due to bankruptcy related items during the eleven months ended November 30, 2009. In accordance with GAAP, the audited consolidated financial statements present the results of operations for (i) the eleven months ended November 30, 2009 of the Predecessor and (ii) the one month ended December 31, 2009 of the Successor. However, for purposes of ratio of consolidated earnings to fixed charges in this offering circular, we have combined the 2009 results of operations for the Predecessor and the Successor. |