Exhibit 12.1
CITIZENS COMMUNICATIONS COMPANY
Statement Showing Computation of Ratio of Earnings to Fixed Charges
for the quarters ended March 31, 2001 and 2000
(DOLLARS IN THOUSANDS)
2000 2001
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Pre-tax income before dividends on convertible preferred securities and
discontinued operations $ 13,025 $ 29,215
Income or loss from equity investees (237) (319)
Minority interest (6,285) --
-------- --------
Pre-tax income from continuing operations before adjustment for minority interest
in consolidated subsidiaries or income or loss from equity investees 6,503 28,896
Fixed charges 42,413 65,698
Amortization of capitalized interest -- --
Distributed income of equity investees 300 850
Interest capitalized (2,033) (957)
Preference security dividend requirements of consolidated subsidiaries (2,516) (2,516)
Minority interest in pre-tax income of subsidiaries that have not incurred fixed charges -- --
-------- --------
Total earnings 44,667 91,971
-------- --------
Ratio of earnings to fixed charges 1.05 1.40
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CITIZENS COMMUNICATIONS COMPANY
STATEMENT SHOWING COMPUTATION OF RATIO OF EARNINGS TO
COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS
FOR THE QUARTERS ENDED MARCH 31, 2001 AND 2000
(DOLLARS IN THOUSANDS)
2000 2001
-------- --------
Pre-tax income before dividends on convertible preferred securities and
discontinued operations $ 13,025 $ 29,215
Income or loss from equity investees (237) (319)
Minority interest (6,285) --
-------- --------
Pre-tax income from continuing operations before adjustment for minority interest
in consolidated subsidiaries or income or loss from equity investees 6,503 28,896
Fixed charges 44,928 68,214
Amortization of capitalized interest -- --
Distributed income of equity investees 300 850
Interest capitalized (2,033) (957)
Preference security dividend requirements of consolidated subsidiaries (2,516) (2,516)
Minority interest in pre-tax income of subsidiaries that have not incurred fixed charges -- --
-------- --------
Total earnings 47,183 94,487
-------- --------
Ratio of earnings to combined fixed charges 1.05 1.39
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