Exhibit 12.1
Radio One, Inc.
Calculation of Ratio of Earnings to Fixed Charges
(in thousands of U.S. dollars except for ratios)
Calculation of Ratio of Earnings to Fixed Charges
(in thousands of U.S. dollars except for ratios)
Nine Months Ended | Year Ended | |||||||||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||||||||||
2010 | 2009 | 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income (loss) from continuing operations before provision for (benefit from) income taxes(1) | $ | 4,835 | $ | (26,173 | ) | $ | (39,729 | ) | $ | (336,716 | ) | $ | (196,466 | ) | $ | 38,499 | $ | 54,751 | ||||||||||
Plus: fixed charges | 31,577 | 29,521 | 39,050 | 60,401 | 73,730 | 73,877 | 63,664 | |||||||||||||||||||||
Total | $ | 36,412 | $ | 3,348 | $ | (679 | ) | $ | (276,315 | ) | $ | (122,736 | ) | $ | 112,376 | $ | 118,415 | |||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest expense | $ | 31,059 | $ | 29,036 | $ | 38,404 | $ | 59,689 | $ | 72,770 | $ | 72,932 | $ | 63,010 | ||||||||||||||
Estimate of the interest within operating leases(2) | 518 | 485 | 646 | 712 | 960 | 945 | 654 | |||||||||||||||||||||
Total | $ | 31,577 | $ | 29,521 | $ | 39,050 | $ | 60,401 | $ | 73,730 | $ | 73,877 | $ | 63,664 | ||||||||||||||
Deficiency of earnings available to cover fixed charges | — | 26.2 | 39.7 | 336.7 | 196.5 | — | — | |||||||||||||||||||||
Ratio of earnings to fixed charges) | 1.15 | 0.11 | — | — | — | 1.52 | 1.86 |
(1) | For purposes of calculating the ratio of earnings to fixed charges, earnings represent income (loss) before income taxes plus fixed charges. | |
(2) | For purposes of estimating interest within operating leases, an interest rate equal to the three month LIBOR plus a spread of 2.25% at the end of each period presented was utilized. |