Intelsat USA Sales S-4/A Registration of securities issued in business combination transactions (amended)

Exhibit 12.1

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in thousands)

	Predecessor Entity														Successor Entity
											Nine Months Ended September 30,		January 1 to January 31, 2005		February 1 to September 30,
	2000		2001		2002		2003		2004		2004		2005		2005
Earnings:
Income (loss) from continuing operations before income taxes	504,890		504,342		307,161		209,368		23,897		83,099		(105,326	)	(137,027	)
Loss from equity investees	—		—		—		—		4,670		2,987		402		7,124
Fixed charges	81,834		90,565		108,876		118,133		166,483		129,445		13,482		280,649
Amortization of capitalized interest	20,268		17,164		24,401		28,614		29,201		21,561		2,554		20,116
Capitalized interest	(56,501	)	(76,240	)	(52,406	)	(19,884	)	(21,452	)	(16,771	)	(92	)	(9,017	)
Total adjustments	45,601		31,489		80,871		126,863		178,902		137,222		16,346		298,872
Earnings adjusted for fixed charges	550,491		535,831		388,032		336,231		202,799		220,321		(88,981	)	161,845
Fixed charges:
Interest expensed and capitalized, including amortization of capitalized expenses related to indebtedness	81,360		89,290		107,458		116,914		164,851		128,246		13,333		279,353
Portion of rent expense representative of interest (1)	474		1,275		1,418		1,219		1,632		1,199		149		1,296
Total fixed charges	81,834		90,565		108,876		118,133		166,483		129,445		13,482		280,649
Ratio of earnings to fixed charges	6.7		5.9		3.6		2.8		1.2		1.7		(6.6	)	0.6
ESTIMATE OF INTEREST WITHIN RENTAL EXPENSE
Total Rent expense	1,435		3,865		4,296		3,694		4,945		3,632		450		3,926
Estimated percentage (based on SEC guidance)	33	%	33	%	33	%	33	%	33	%	33	%	33	%	33	%
Estimated interest within rental expense	474		1,275		1,418		1,219		1,632		1,199		149		1,296

(1) One third of rent expense is deemed to be representative of interest.