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)
| NINE MONTHS ENDED SEPTEMBER 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 |
$ | (235,522 | ) | $ | (234,734 | ) | ||
| Add: |
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| Fixed charges (as computed below) |
254,862 | 252,019 | ||||||
| $ | 19,340 | $ | 17,285 | |||||
| Computation of Fixed Charges and Combined Fixed Charges and Preferred Stock Dividends: |
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| Interest expense |
$ | 155,975 | $ | 160,195 | ||||
| Amortization of deferred financing costs, discounts on long-term debt and dividends on preferred stock |
74,859 | 55,807 | ||||||
| Interest component of operating lease expense |
24,028 | 36,017 | ||||||
| Fixed charges |
254,862 | 252,019 | ||||||
| Preferred stock dividends |
11,034 | 43,948 | ||||||
| Combined fixed charges and preferred stock dividends |
$ | 265,896 | $ | 295,967 | ||||
| Ratio of Earnings to Fixed Charges |
— | — | ||||||
| Deficiency of Earnings to Cover Fixed Charges |
$ | 235,522 | $ | 234,734 | ||||
| Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends |
— | — | ||||||
| Deficiency of Earnings to Cover Combined Fixed Charges and Preferred Stock Dividends |
$ | 246,556 | $ | 278,682 | ||||