EXHIBIT 12.1
CROWN CASTLE INTERNATIONAL CORP.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND
EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(DOLLARS IN THOUSANDS)
NINE MONTHS
ENDED SEPTEMBER 30,
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2001 2002
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Computation of Earnings:
Income (loss) before income taxes and
minority interests $(252,446) $(235,522)
Add:
Fixed charges (as computed below) 241,946 254,862
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$ (10,500) $ 19,340
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Computation of Fixed Charges and Combined Fixed
Charges and Preferred Stock Dividends:
Interest expense $ 150,836 $ 155,975
Amortization of deferred financing
costs and discounts on long-term debt 68,085 74,859
Interest component of operating lease
expense 23,025 24,028
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Fixed charges 241,946 254,862
Preferred stock dividends, net of gains
on repurchases of preferred stock 58,770 11,034
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Combined fixed charges and preferred
stock dividends $ 300,716 $ 265,896
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Ratio of Earnings to Fixed Charges -- --
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Deficiency of Earnings to Cover Fixed Charges $ 252,446 $ 235,522
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Ratio of Earnings to Combined Fixed
Charges and Preferred Stock Dividends -- --
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Deficiency of Earnings to Cover Combined
Fixed Charges and Preferred Stock Dividends $ 311,216 $ 246,556
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