CC Holdings GS V 10-K 2017 FY Annual report

EXHIBIT 12

CC HOLDINGS GS V LLC

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND

EARNINGS TO COMBINED FIXED CHARGES

(DOLLARS IN THOUSANDS)

	Years Ended December 31,
	2017		2016		2015		2014		2013
Computation of earnings:
Income (loss) before income taxes	$	133,157	$	106,251	$	114,170	$	132,405	$	105,376
Add:
Fixed charges (as computed below)	89,418		97,715		100,871		100,427		105,145
	$	222,575	$	203,966	$	215,041	$	232,832	$	210,521
Computation of fixed charges and combined fixed charges:
Interest expense	$	38,490	$	47,088	$	50,395	$	50,395	$	50,824
Amortized premiums, discounts and capitalized expenses related to indebtedness	1,384		2,427		2,828		2,828		7,551
Interest component of operating lease expense	49,544		48,200		47,648		47,204		46,770
Fixed charges	89,418		97,715		100,871		100,427		105,145
Ratio of earnings to fixed charges	2.5		2.1		2.1		2.3		2.0
(Deficiency) excess of earnings to cover fixed charges	$	133,157	$	106,251	$	114,170	$	132,405	$	105,376