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New words:
aircraft, Arizona, character, Creation, Energy, indefinitely, IRS, Job, Joule, jurisdiction, LA, legislation, member, midnight, Montana, pretax, Reauthorization, Relief, solar, son, uncertain, Unemployment, Wisconsin
Removed:
add, airplane, attribute, cancelled, carried, classification, close, consistently, consummation, continuation, cumulative, Deanna, derecognition, domestic, downturn, Edward, examination, existence, FIN, flight, guidance, lost, McDermott, monthly, newly, obtained, policy, prepaid, qualified, recognition, reducing, refundable, replaced, request, return, thereof, threshold, type, underpayment
Filing tables
Filing exhibits
- 10-K Annual report
- 4 Supplemental Indenture to the Indenture Dated As of August 16, 2005
- 4 Supplemental Indenture to the Indenture Dated As of August 16, 2005
- 4 Supplemental Indenture to the Indenture Dated As of August 16, 2005
- 4 Supplemental Indenture to the Indenture Dated As of August 17, 2006
- 4 Supplemental Indenture to the Indenture Dated As of August 17, 2006
- 4 Supplemental Indenture to the Indenture Dated As of August 17, 2006
- 4 Supplemental Indenture to the Indenture Dated As of October 11, 2007
- 4 Supplemental Indenture to the Indenture Dated As of October 11, 2007
- 4 Supplemental Indenture to the Indenture Dated As of October 11, 2007
- 4 Supplemental Indenture to the Indenture Dated As of March 27, 2009
- 4 Supplemental Indenture to the Indenture Dated As of March 27, 2009
- 4 Supplemental Indenture to the Indenture Dated As of March 27, 2009
- 4 Amendment NO.1, Dated August 27, 2010, to the Indenture Dated April 22, 2010
- 4 Supplemental Indenture to the Indenture Dated As of April 22, 2010
- 4 Supplemental Indenture to the Indenture Dated As of April 22, 2010
- 4 Supplemental Indenture to the Indenture Dated As of April 22, 2010
- 10 Joinder Agreement, Dated As of July 19, 2010, to the Credit Agreement
- 10 Joinder Agreement, Dated As of April 21, 2011, to the Credit Agreement
- 10 Joinder Agreement, Dated As of August 26, 2011, to the Credit Agreement
- 11 Statement Regarding Computation of Per Share Earnings for the Company
- 12 Statement Regarding Computation of Earnings to Fixed Charges for the Company
- 12 Statement Regarding Computation of Earnings to Fixed Charges for Lamar Media
- 21 Subsidiaries of the Company
- 23 Consent of KPMG LLP.
- 31 Certification of the Chief Executive Officer
- 31 Certification of the Chief Financial Officer
- 32 Certification Pursuant to Section 906
Lamar Media similar filings
Filing view
External links
Exhibit 12(b)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES(1)
The following table sets forth Lamar Media’s ratio of earnings to fixed charges for the periods indicated.
YEARS ENDED DECEMBER 31, | ||||||||||||||||||||||||
(dollars in thousands) | 2006 | 2007 | 2008 | 2009(2) | 2010(2) | 2011 | ||||||||||||||||||
Net income (loss) | $ | 43,279 | $ | 45,551 | $ | 10,360 | $ | (55,823 | ) | $ | (40,198 | ) | $ | 8,612 | ||||||||||
Income tax expense (benefit) | 34,520 | 37,283 | 14,487 | (36,146 | ) | (23,213 | ) | 6,919 | ||||||||||||||||
Fixed charges | 171,686 | 224,932 | 230,078 | 263,011 | 253,569 | 239,477 | ||||||||||||||||||
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Earnings | 249,485 | 307,766 | 254,925 | 171,042 | 190,158 | 255,008 | ||||||||||||||||||
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Interest expense, net | 109,806 | 158,609 | 156,716 | 191,455 | 185,517 | 170,524 | ||||||||||||||||||
Rent under leases representative of an interest factor | 61,880 | 66,323 | 73,362 | 71,556 | 68,052 | 68,953 | ||||||||||||||||||
Preferred dividends | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
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Fixed charges | 171,686 | 224,932 | 230,078 | 263,011 | 253,569 | 239,477 | ||||||||||||||||||
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Ratio of earnings to fixed charges | 1.5 | x | 1.4 | x | 1.1 | x | 0.7 | x | 0.7 | x | 1.1 | x | ||||||||||||
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(1) | The ratio of earnings to fixed charges is defined as earnings divided by fixed charges. For purposes of this ratio, earnings is defined as net income (loss) before income taxes and cumulative effect of a change in accounting principle and fixed charges. Fixed charges is defined as the sum of interest expenses, preferred stock dividends and the component of rental expense that we believe to be representative of the interest factor for those amounts. |
(2) | For the years ended December 31, 2010 and 2009, earnings were insufficient to cover fixed charges by $63.4 million and $92.0 million, respectively. |