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EXHIBIT 12.1
PAXSON COMMUNICATIONS CORPORATION
Calculation of Ratio of Earnings to Fixed Charges
(In thousands)
SIX MONTHS ENDED
YEAR ENDED DECEMBER 31, JUNE 30,
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1996 1997 1998 1999 2000 2000 2001
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Net (loss) income............................ $ (26,219) $ 214,689 $ (88,288) $(160,372) $(178,525) $(88,710) $(56,550)
Equity in loss of unconsolidated investment.. -- 430 13,273 2,260 539 -- 36
(Income) loss from discontinued operations... (4,217) (251,193) (1,182) -- -- -- --
Provision (benefit) for income taxes......... -- (21,879) (37,389) (57,257) 120 -- 60
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Earnings, as defined......................... $ (30,436) $ (57,953) $(113,586) $(215,369) $(177,866) $(88,710) $(56,454)
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Earnings, as defined......................... $ (30,436) $ (57,953) $(113,586) $(215,369) $(177,866) $(88,710) $(56,454)
Fixed charges, as below...................... 33,317 39,150 45,468 54,943 53,385 25,909 26,227
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Total earnings, as defined................... $ 2,881 $ (18,803) $ (68,118) $(160,426) $(124,481) $(62,801) $(30,227)
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Fixed charges, as defined:
Interest expense............................. $ 31,526 $ 37,728 $ 41,906 $ 50,286 $ 47,973 $ 23,392 $ 24,138
Rental interest factor....................... 1,791 1,422 3,562 4,657 5,412 2,517 2,089
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Total fixed charges, as defined.............. 33,317 39,150 45,468 54,943 53,385 25,909 26,227
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Ratio of earnings to fixed charges........... 0.09 (0.48) (1.50) (2.92) (2.33) (2.42) (1.15)
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Earnings were insufficient to cover
fixed charges by........................... $ (30,436) $ (57,953) $(113,586) $(215,369) $(177,866) $(88,710) $(56,454)
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