EXHIBIT 12
CABLEVISION SYSTEMS CORPORATION
COMPUTATION OF RATIO OF DEFICIENCY OF EARNINGS TO FIXED CHARGES
AND EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(FIXED CHARGES COVERAGE DEFICIENCIES)
Six Months Ended
June 30, Year Ended December 31,
--------------------- ---------------------------------------------------------
1995 1994 1994 1993 1992 1991 1990
---- ---- ---- ---- ---- ---- ----
Earnings:
Loss from continuing
operations................. $(195,439) $(111,851) $(315,151) ($246,782) ($250,503) $(227,199) $(271,375)
Add:
Fixed charges per (B)
below...................... 159,051 121,436 269,627 238,109 199,661 264,039 268,491
Amortization of previously
capitalized interest....... 37 74 148 138 74 75 74
Deduct:
Interest capitalized
during period.............. -- -- -- -- -- -- --
--------- --------- --------- --------- --------- --------- ---------
Earnings for computation
purposes (A)............... $ (36,351) $ 9,659 $ (45,376) $ (8,535) $ (50,768) $ 36,915 $ (2,810)
========= ========= ========= ========= ========= ========= =========
Fixed Charges:
Interest on indebtedness,
expensed or capitalized,
including amortization
of debt expense............ 155,318 118,586 263,299 232,434 194,628 258,794 263,564
Portion of rents
representative of the
interest factor............ 3,733 2,850 6,328 5,675 5,033 5,245 4,927
--------- --------- --------- --------- --------- --------- ---------
Fixed charges for
computation purposes (B).... $ 159,051 $ 121,436 $ 269,627 $ 238,109 $ 199,661 $ 264,039 $ 268,491
========= ========= ========= ========= ========= ========= =========
Ratio of earnings to fixed
charges (A)/(B)............. -- -- -- -- -- -- --
Deficiency of earnings
available to cover fixed
charges..................... $(195,402) $(111,777) $(315,003) $(246,644) $(250,429) $(227,124) $(271,301)
========= ========= ========= ========= ========= ========= =========
Preferred stock
dividends (C)............... $ 4,918 $ 2,054 $ 6,385 $ 885 $ 885 $ 4,464 $ 4,065
========= ========= ========= ========= ========= ========= =========
Ratio of earnings to fixed
charges and preferred
stock dividends (A)/(B+C)... -- -- -- -- -- -- --
Deficiency of earnings
available to cover fixed
charges and preferred
stock dividends............. $(200,320) $(113,831) $(321,388) $(247,529) $(251,314) $(231,588) $(275,366)
========= ========= ========= ========= ========= ========= =========
CABLEVISION SYSTEMS CORPORATION
COMPUTATION OF PRO FORMA RATIO OF
DEFICIENCY OF EARNINGS TO FIXED CHARGES
(FIXED CHARGES COVERAGE DEFICIENCIES)
Six Months
Ended Year Ended
June 30, December 31, 1994
---------- ------------------
(Dollars in thousands)
Earnings:
Loss from continuing operations.......................... $(184,646) $(344,775)
Add:
Fixed charges per (B) below.............................. 141,377 273,547
Amortization of previously capitalized interest.......... 37 148
Deduct:
Interest capitalized during period....................... -- --
--------- ---------
Earnings for computation purposes (A).................... $ (43,232) $ (71,080)
========= =========
Fixed Charges:
Interest on indebtedness, expensed or capitalized,
including amortization of debt expense.................. 137,556 266,443
Portion of rents representative of the
interest factor......................................... 3,821 7,104
--------- ---------
Fixed Charges for computation purposes (B)................ $ 141,377 $ 273,547
========= =========
Ratio of earnings to fixed charges (A)/(B)................ -- --
Deficiency of earnings available to cover fixed
charges.................................................. $(184,609) $(344,627)
========= =========
Preferred stock dividends (C)............................. $ 25,993 $ 49,788
========= =========
Ratio of earnings to fixed charges and preferred
Stock dividends (A)/(B+C)................................ -- --
Deficiency of earnings available to cover fixed
charges and preferred stock dividends................... $(210,602) $(394,415)
========= =========