EX-12 3 v238097_ex12.htm EXHIBIT 12
Exhibit 12

Statement of Computation of Ratio of Earnings to Fixed Charges

   
Nine Months Ended
September 30,
  
   
2011
    
2010
  
   
(000’s)
    
(000’s)
  
Earnings:
                
Loss from continuing operations attributable to MDC Partners Inc.
  
$
(26,934
)
  
$
(24,865
)
Additions:
                
Income tax expense
    
904
      
1,208
  
Noncontrolling interest in income of consolidated subsidiaries
    
6,088
      
4,503
  
Fixed charges, as shown below
    
37,566
      
28,610
  
Distributions received from equity-method investees
    
4,067
      
249
  
     
48,625
      
34,570
  
Subtractions:
                
Equity in income (loss) of investees
    
214
      
(1,639
)
Noncontrolling interest in earnings of consolidated subsidiaries that have not incurred fixed charges
    
—
      
—
  
     
214
      
(1,639
)
                 
Earnings as adjusted
  
$
21,477
    
$
11,344
  
Fixed charges:
                
Interest on indebtedness, expensed or capitalized
    
29,368
      
22,758
  
Amortization of debt discount and expense and premium on indebtedness, expensed or capitalized
    
1,662
      
1,582
  
Interest within rent expense
    
6,536
      
4,270
  
Total fixed charges
  
$
37,566
    
$
28,610
  
Ratio of earnings to fixed charges
    
N/A
      
N/A
  
Fixed charge deficiency
  
$
16,089
    
$
17,266