Exhibit 12.2
HEFTEL BROADCASTING CORPORATION AND SUBSIDIARIES
Computation Of Ratio Of Earnings To Combined
Fixed Charges And Preferred Stock Dividends
(in thousands except ratios)
Nine Months Three Months
Ended Ended September 30,
September 30, December 31, --------------------------------------------------
1997 1996 1996 1995 1994 1993 1992
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Earnings:
Income (loss) from continuing operations
before income taxes $19,813 $2,164 $(29,092) $ 4,469 $2,588 $2,993 $(1,397)
Fixed charges 3,713 2,965 11,793 7,055 3,377 2,582 2,657
Undistributed income from an investment
in a less-than-fifty-percent owned person
accounted for under the equity method - - - - (616) (746) -
Loss recognized from an investment in a
less-than-fifty-percent-owned person
accounted for under the equity method - - - - - - 991
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Earnings as adjusted (A) $23,526 $5,129 $(17,299) $11,524 $5,349 $4,829 $ 2,251
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Fixed Charges:
Interest expense $ 3,099 $2,867 $ 11,241 $ 6,607 $3,180 $2,427 $ 2,522
Interest portion of rental expense (1) 614 98 552 448 197 155 135
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Total fixed charges 3,713 2,965 11,793 7,055 3,377 2,582 2,657
Preferred stock dividends (2) - - 20 75 208 202 184
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Total fixed charges and preferred stock
dividends (B) $ 3,713 $2,965 $ 11,813 $ 7,130 $3,585 $2,784 $ 2,841
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Ratio of earnings to combined fixed charges
and preferred stock dividends (A) divided
by (B) 6.3 1.7 - 1.6 1.5 1.7 -
Deficiency of earnings to cover combined fixed
charges and preferred stock dividends
(B) minus (A) $ - $ - $ 29,112 $ - $ - $ - $ 590
(1) Management of the Company believes approximately one-third of rent
expense is representative of the interest component of rent expense.
(2) Represents pretax earnings required to cover preferred stock dividends.