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EXHIBIT 12.1
UNIVISION COMMUNICATIONS INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS
FIVE YEARS ENDED DECEMBER 31, 2002
AND NINE MONTHS ENDED SEPTEMBER 30, 2002 AND 2003
(Amounts in thousands, except ratios)
| | FISCAL YEAR ENDED DECEMBER 31, | NINE MONTHS ENDED SEPTEMBER 30, | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | 1998 | 1999 | 2000 | 2001 | 2002 | 2002 | 2003 | |||||||||||||||
| Income before taxes and equity losses | $ | 51,039 | $ | 175,578 | $ | 229,832 | $ | 160,171 | $ | 162,309 | $ | 99,497 | $ | 168,687 | ||||||||
| Fixed charges | 40,945 | 32,884 | 36,902 | 64,171 | 101,250 | 76,625 | 64,665 | |||||||||||||||
| Total earnings | $ | 91,984 | $ | 208,462 | $ | 266,734 | $ | 224,342 | $ | 263,559 | $ | 176,122 | $ | 233,352 | ||||||||
Fixed charges: | ||||||||||||||||||||||
| Interest expense | $ | 35,830 | $ | 27,459 | $ | 30,097 | $ | 53,463 | $ | 87,233 | $ | 66,043 | $ | 55,059 | ||||||||
| Estimate of interest within rent expense | 3,438 | 3,984 | 5,444 | 8,220 | 10,171 | 7,699 | 6,753 | |||||||||||||||
| Amortization of debt expenses | 1,677 | 1,441 | 1,361 | 2,488 | 3,846 | 2,883 | 2,853 | |||||||||||||||
| Total fixed charges | $ | 40,945 | $ | 32,884 | $ | 36,902 | $ | 64,171 | $ | 101,250 | $ | 76,625 | $ | 64,665 | ||||||||
Preference dividends | $ | 606 | $ | 540 | $ | 518 | $ | 70 | $ | 25 | $ | 25 | — | |||||||||
| Ratio of income before taxes to net income | 2.38 | 2.10 | 1.92 | 2.15 | 1.71 | 1.79 | — | |||||||||||||||
| Preference dividends on pre-tax basis | $ | 1,445 | $ | 1,132 | $ | 997 | $ | 150 | $ | 43 | $ | 45 | — | |||||||||
Combined fixed charges and preference dividends | $ | 42,390 | $ | 34,016 | $ | 37,899 | $ | 64,321 | $ | 101,293 | $ | 76,670 | $ | 64,665 | ||||||||
Ratio of Earnings to Fixed Charges | 2.2 | 6.3 | 7.2 | 3.5 | 2.6 | 2.3 | 3.6 | |||||||||||||||
Ratio of Earnings to Combined Fixed Charges and Preference Dividends | 2.2 | 6.1 | 7.0 | 3.5 | 2.6 | 2.3 | 3.6 | |||||||||||||||
UNIVISION COMMUNICATIONS INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS FIVE YEARS ENDED DECEMBER 31, 2002 AND NINE MONTHS ENDED SEPTEMBER 30, 2002 AND 2003 (Amounts in thousands, except ratios)