Exhibit 12.1
LAMAR MEDIA CORP.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
NINE MONTHS
ENDED SEPTEMBER 30, YEARS ENDED DECEMBER 31,
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2002 2001 2001 2000 1999 1998 1997
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EARNINGS
Net earnings (loss) (13,934) (71,056) (97,566) (91,930) (43,886) (11,890) 2,841
ADD:
income tax expense (benefit) (6,596) (26,238) (38,870) (35,879) (9,232) (191) 4,654
fixed charges 103,637 120,083 154,604 182,827 110,684 72,989 46,829
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EARNINGS AS ADJUSTED (A) 83,107 22,789 18,168 55,018 57,566 60,908 54,324
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FIXED CHARGES
Interest expense 69,878 89,098 113,026 147,607 89,619 60,008 38,230
Rents under leases representative of an
interest factor (1/3) 33,759 30,985 41,578 35,220 21,065 12,981 8,599
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FIXED CHARGES AS ADJUSTED 103,637 120,083 154,604 182,827 110,684 72,989 46,829
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Preferred dividends 0 0 0 0 274 365 365
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TOTAL FIXED CHARGES COMBINED
WITH PREFERRED DIVIDENDS (C) 103,637 120,083 154,604 182,827 110,958 73,354 47,194
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RATIO OF EARNINGS TO FIXED CHARGES
RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED DIVIDENDS (A) DIVIDED BY (C) 0.80 0.19 0.12 0.30 0.52 0.83 1.15
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