1
INTERMEDIA CAPITAL PARTNERS IV, L.P.
PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES
EXHIBIT 11.1
PRO FORMA
-----------------------------
Year Six Months
Ended Ended
December 31, June 30,
1995 1996
------------ ----------
Pre-tax loss from continuing operations (125,598) (55,984)
-------- -------
Fixed charges:
Interest expense and amortization of
debt discount and premium on all
indebtedness 77,209 38,605
Rentals:
Rent expense(1) 1,436 571
-------- -------
Total fixed charges 78,645 39,176
-------- -------
Loss before income taxes, interest
and fixed charges (46,953) (16,808)
======== =======
Ratio of earnings to fixed charges - -
======== =======
(1) For leases where the interest factor can be specifically identified, the
actual interest factor was used. For all other leases, the interest factor
is estimated at one-third of total rent expense for the applicable period,
which management believes represents a reasonable approximation of the
interest factor.
2
INTERMEDIA CAPITAL PARTNERS IV, L.P.
RATIO OF EARNINGS TO FIXED CHARGES
Six months
ended
June 30,
1996
----------
Pre-tax loss from continuing operations (4,436)
------
Fixed charges:
Interest expense and amortization of
debt discount and premium on all
indebtedness 4,002
Rentals:
Rent expense(1) 50
------
Total fixed charges 4,052
------
Loss before income taxes, interest
and fixed charges (384)
======
Ratio of earnings to fixed charges --
======
- ----------
(1) For leases where the interest factor can be specifically identified, the
actual interest factor was used. For all other leases, the interest factor
is estimated at one-third of total rent expense for the applicable period,
which management believes represents a reasonable approximation of the
interest factor.
3
PREVIOUSLY AFFILIATED ENTITIES
RATIO OF EARNINGS TO FIXED CHARGES
Six Months
Year ended December 31, Ended June 30,
____________________________________________________ _______________
1991 1992 1993 1994 1995 1995 1996
---- ---- ---- ---- ---- ---- ----
Pre-tax loss from continuing operations (21,081) (70,280) (77,648) (79,047) (62,412) (31,418) (39,231)
------- ------- ------- ------- ------- ------- -------
Fix charges:
Interest expenses and amortization of
debt discount and premium on all
indebtedness 8,640 32,357 44,760 44,278 48,835 24,161 36,970
Rentals:
Rent expense(1) 137 404 585 666 952 485 510
------- ------- ------- ------- ------- ------- -------
Total fixed charges 8,777 32,761 45,345 44,944 49,787 24,646 37,480
------- ------- ------- ------- ------- ------- -------
Loss before income taxes, interest
and fixed charges (12,304) (37,519) (32,303) (34,103) (12,625) (6,772) (1,751)
======= ======= ======= ======= ======= ======= =======
Ratio of earnings to fixed charges -- -- -- -- -- -- --
======= ======= ======= ======= ======= ======= =======
- -----------------------------------
(1) For leases where the interest factor can be specifically identified, the
actual interest factor was used. For all other leases, the interest factor
is estimated at one-third of total rent expense for the applicable period,
which management believes represents a reasonable approximation of the
interest factor.
4
GREENVILLE/SPARTANBURG SYSTEM
RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31, Period
---------------------------- 1/1/95-
1991 1992 1993 1994 1/26/95
---- ---- ---- ---- -------
Pre-tax income from
continuing operations 4,748 6,607 7,979 5,621 234
----- ----- ------ ----- ---
Fixed charges:
Interest expense and amortization of
debt discount and premium on all
indebtedness 2,980 2,068 1,932 2,150 161
Rentals:
Rent expense(1) 157 159 167 183 15
----- ----- ------ ----- ---
Total fixed charges 3,137 2,227 2,099 2,333 176
----- ----- ------ ----- ---
Earnings before income taxes, interest
and fixed charges 7,885 8,834 10,078 7,954 410
===== ===== ====== ===== ===
Ratio of earnings to fixed charges 2.5 4.0 4.8 3.4 2.3
===== ===== ====== ===== ===
- --------
(1) For leases where the interest factor can be specifically identified, the
actual interest factor was used. For all other leases, the interest factor
is estimated at one-third of total rent expense for the applicable period,
which management believes represents a reasonable approximation of the
interest factor.
5
KINGSPORT SYSTEM
RATIO OF EARNINGS TO FIXED CHARGES
Six Months Month
Year Ended December 31, Ended Ended
-------------------------------------------- June 30, January 31,
1992 1993 1994 1995 1995 1996
---- ---- ---- ---- -------- -----------
Pre-tax income continuing operations 4,605 4,126 4,230 3,268 2,291 193
Fixed charges:
Interest expense and amortization of
debt discount and premium on all
indebtedness 0 0 0 856 0 90
Rentals:
Rent expense(1) 58 73 85 83 36 8
----- ----- ----- ----- ---- ---
Total fixed charges 58 73 85 939 36 98
----- ----- ----- ----- ---- ---
Earnings before income taxes, interest
and fixed charges 4,663 4,199 4,315 4,207 2,327 291
===== ===== ===== ===== ===== ===
Ratio of earnings to fixed charges 80.4 57.5 50.8 4.5 64.6 3.0
===== ===== ===== ===== ===== ===
- ----------
(1) For leases where the interest factor can be specifically identified, the
actual interest factor was used. For all other leases, the interest factor
is estimated at one-third of total rent expense for the applicable period,
which management believes represents a reasonable approximation of the
interest factor.
6
PAR CABLE SYSTEM
RATIO OF EARNINGS TO FIXED CHARGES
Six Months Month
Year Ended December 31, Ended Ended
------------------------------------ June 30, January 31,
1991 1992 1993 1994 1995 1995 1996
---- ---- ---- ---- ---- ---- ----
Pre-tax income from continuing operations 921 1,154 336 826 903 595 63
---- ----- ---- ---- ---- ---- ----
Fixed charges:
Interest expense and amortization of
debt discount and premium on all
indebtedness 0 0 0 18 0 0 0
Rentals:
Rent expense(1) 32 41 35 34 36 18 3
---- ----- ---- ---- ---- ---- ----
Total fixed charges 32 41 35 52 36 18 3
---- ----- ---- ---- ---- ---- ----
Earnings before income taxes, interest
and fixed charges 953 1,195 371 878 939 613 66
==== ===== ==== ==== ==== ==== ====
Ratio of earnings to fixed charges 29.8 29.1 10.6 16.9 26.1 34.1 22.0
==== ===== ==== ==== ==== ==== ====
(1) For leases where the interest factor can be specifically identified, the
actual interest factor was used. For all other leases, the interest factor
is estimated at one-third of total rent expense for the applicable period,
which management believes represents a reasonable approximation of the
interest factor.
7
VIACOM NASHVILLE SYSTEM
RATIO OF EARNINGS TO FIXED CHARGES
Six Months Ended
Year Ended December 31, June 30,
------------------------------------------------------- -------------------
1991 1992 1993 1994 1995 1995 1996
---- ---- ---- ---- ---- ---- ----
Pre-tax loss from continuing operations 2,607 7,060 9,743 8,013 8,452 4,142 3,859
------ ------ ------ ------ ------ ----- -----
Fix charges:
Gross Interest Expense 7,165 4,972 3,662 4,391 5,544 2,790 2,736
Rentals:
Rent expense(1) 321 277 327 307 350 127 165
------ ------ ------ ------ ------ ----- -----
Total fixed charges 7,486 5,249 3,989 4,698 5,894 2,917 2,901
------ ------ ------ ------ ------ ----- -----
Earnings before income taxes, interest
and fixed charges 10,093 12,309 13,732 12,711 14,346 7,059 6,760
====== ====== ====== ====== ====== ===== =====
Ratio of earnings to fixed charges 1.3 2.3 3.4 2.7 2.4 2.4 2.3
====== ====== ====== ====== ====== ===== =====
- -----------------------------------
(1) For leases where the interest factor can be specifically identified, the
actual interest factor was used. For all other leases, the interest factor
is estimated at one-third of total rent expense for the applicable period,
which management believes represents a reasonable approximation of the
interest factor.