Exhibit 12
Statement of Computation of Ratio of Earnings to Fixed Charges
Three Months Ended March 31, | ||||||||
2009 | 2008 | |||||||
(000’s) | (000’s) | |||||||
Earnings: | ||||||||
Income from continuing operations attributable to MDC Partners Inc. | $ | 281 | $ | (358 | ) | |||
Additions: | ||||||||
Income tax expense (recovery) | 615 | (292 | ) | |||||
Noncontrolling interest in income of consolidated subsidiaries | 382 | 2,125 | ||||||
Fixed charges, as shown below | 5,319 | 5,258 | ||||||
Distributions received from equity-method investees | — | — | ||||||
6,316 | 7,091 | |||||||
Subtractions: | ||||||||
Equity in income of investees | 93 | 140 | ||||||
Noncontrolling interest in earnings of consolidated subsidiaries that have not incurred fixed charges | — | — | ||||||
93 | 140 | |||||||
Earnings as adjusted | $ | 6,504 | $ | 6,593 | ||||
Fixed charges: | ||||||||
Interest on indebtedness, expensed or capitalized | 3,443 | 3,565 | ||||||
Amortization of debt discount and expense and premium on indebtedness, expensed or capitalized | 318 | 346 | ||||||
Interest within rent expense | 1,558 | 1,347 | ||||||
Total fixed charges | $ | 5,319 | $ | 5,258 | ||||
Ratio of earnings to fixed charges | 1.22 | 1.25 |