Exhibit 12.2
Ration of Combined Charges and Preference Dividends to Earnings
(dollars in thousands)
Three Three
March 5, 1996 Year Months Months
(inception) to Ended Ended Ended
December 31, December 31, March 31, March 31,
1996 1997 1998 1998 1999
---- ---- ---- ---- ----
Fixed charges
and Preference
Dividends:
Interest expense on
indebtedness
(including amortization
of debt expense and
discount) 879 5,859 66,880 11,929 19,761
Interest expense on
portion of rent expense
representative of
interest 127 756 904 458 1,813
Preference Dividends - - - - -
-------- -------- -------- -------- --------
Total Fixed Charges and
Preference Dividends 1,006 6,615 67,784 12,387 21,574
-------- -------- -------- -------- --------
Earnings (Loss):
Net loss before
provisions for
income taxes (13,633) (138,054) (281,471) ( 38,558) (108,112)
Fixed charges per above 1,006 6,615 67,784 12,387 21,574
-------- -------- -------- -------- -------
Total Earnings (Loss) (12,627) (131,439) (213,687) (26,171) (86,538)
======== ======== ======== ======== ========
Ratio of Earnings to
Fixed Charge (0.08) (0.05) (0.32) (0.47) (0.25)
======== ======== ======== ======== ========
Coverage deficiency (13,633) (138,054) (281,471) (38,558) (108,112)
======== ======== ======== ======== ========