EXHIBIT 12.1
CROWN CASTLE INTERNATIONAL CORP.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(DOLLARS IN THOUSANDS)
| SIX MONTHS ENDED JUNE 30, |
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| 2002 |
2003 |
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| Computation of Earnings: |
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| Income (loss) before income taxes, minority interests and cumulative effect of change accounting principle |
$ | (170,070 | ) | $ | (139,141 | ) | ||
| Add: |
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| Fixed charges (as computed below) |
168,725 | 169,226 | ||||||
| $ | (1,345 | ) | $ | 30,085 | ||||
| Computation of Fixed Charges and Combined Fixed Charges and Preferred Stock Dividends: |
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| Interest expense |
$ | 103,510 | $ | 109,985 | ||||
| Amortization of deferred financing costs and discounts on long-term debt |
49,197 | 35,229 | ||||||
| Interest component of operating lease expense |
16,018 | 24,012 | ||||||
| Fixed charges |
168,725 | 169,226 | ||||||
| Preferred stock dividends |
40,966 | 34,452 | ||||||
| Combined fixed charges and preferred stock dividends |
$ | 209,691 | $ | 203,678 | ||||
| Ratio of Earnings to Fixed Charges |
— | — | ||||||
| Deficiency of Earnings to Cover Fixed Charges |
$ | 170,070 | $ | 139,141 | ||||
| Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends |
— | — | ||||||
| Deficiency of Earnings to Cover Combined Fixed Charges and Preferred Stock Dividends |
$ | 211,036 | $ | 173,593 | ||||