EXHIBIT 12
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)
| Years Ended December 31, 2003 | ||||||||||||||||||||
| 2001 | 2002 | 2003 | 2004 | 2005 | ||||||||||||||||
| (As restated) | (As restated) | (As restated) | (As restated) | |||||||||||||||||
| Computation of earnings: |
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| Income (loss) from continuing operations before income taxes, minority interest and cumulative effect of change in accounting principle |
$ | (360,708 | ) | $ | (331,035 | ) | $ | (457,017 | ) | $ | (307,349 | ) | $ | (393,654 | ) | |||||
| Add: |
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| Fixed charges (as computed below) |
300,772 | 314,475 | 300,634 | 250,037 | 178,982 | |||||||||||||||
| $ | (59,936 | ) | $ | (16,560 | ) | $ | (156,383 | ) | $ | (57,312 | ) | $ | (214,672 | ) | ||||||
| Computation of fixed charges and combined fixed charges and preferred stock dividends: |
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| Interest expense |
$ | 180,990 | $ | 180,484 | $ | 186,675 | $ | 197,258 | $ | 127,632 | ||||||||||
| Amortization of deferred financing costs, discounts on long-term debt and dividends on preferred stock |
89,776 | 93,411 | 72,159 | 9,512 | 6,174 | |||||||||||||||
| Interest component of operating lease expense |
30,006 | 40,580 | 41,626 | 43,307 | 45,176 | |||||||||||||||
| Fixed charges |
300,772 | 314,475 | 300,460 | 250,077 | 178,982 | |||||||||||||||
| Preferred stock dividends |
79,028 | (16,023 | ) | 55,897 | 38,618 | 49,356 | ||||||||||||||
| Combined fixed charges and preferred stock dividends |
$ | 379,800 | $ | 298,452 | $ | 356,357 | $ | 288,695 | $ | 228,338 | ||||||||||
| Ratio of earnings to fixed charges |
| | | | | |||||||||||||||
| Deficiency of earnings to cover fixed charges |
$ | 360,708 | $ | 331,035 | $ | 457,017 | $ | 307,349 | $ | 393,654 | ||||||||||
| Ratio of earnings to combined fixed charges and preferred stock dividends |
| | | | | |||||||||||||||
| Deficiency of earnings to cover combined fixed charges and preferred stock dividends |
$ | 439,736 | $ | 315,012 | $ | 512,740 | $ | 346,007 | $ | 443,010 | ||||||||||