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EXHIBIT 12.1
ECHOSTAR COMMUNICATIONS CORPORATION AND SUBSIDIARIES AND AFFILIATES
COMPUTATION OF RATIOS
(IN THOUSANDS)
(UNAUDITED)
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES:
<TABLE>
<CAPTION>
Year Ended December 31, Three Months
--------------------------------------------------------------------- Ended
1995 1996 1997 1998 1999 March 31, 2000
---------- ---------- ----------- ---------- ------------ --------------
<S> <C> <C> <C> <C> <C> <C>
Income (loss) before
taxes.................. $(17,231) $(155,679) $(312,679) $(260,838) $(523,694) $(185,075)
--------- ---------- ---------- ---------- ---------- ----------
Series A Preferred
Stock dividends........ $ 1,204 $ 1,204 $ 1,204 $ 1,204 $ 124 $ --
Series B Preferred
Stock dividend......... -- -- 6,164 26,874 241 --
Series C Preferred
Stock dividend......... -- -- 1,074 7,137 6,888 493
Interest expense....... 23,985 61,487 104,192 167,529 201,613 61,513
Capitalized interest... 25,763 31,818 43,169 21,678 -- --
Interest component of
rent expense(1)........ 71 84 64 74 192 20
-- -- -- -- --- --
--------- ---------- ---------- ---------- ---------- ----------
Total fixed charges... $ 51,023 $ 94,593 $ 155,867 $ 224,496 $ 209,058 $ 62,026
Earnings before fixed
charges................ $ 6,825 $ (94,108) $(208,423) $ (93,235) $(321,889) $(123,542)
Ratio of earnings to
fixed changes.......... 0.13 (0.99) (1.34) (0.42) (1.54) (1.99)
========= ========== ========== ========== ========== ==========
Deficiency of
available earnings to
fixed charges.......... $(44,198) $(188,701) $(364,290) $(317,731) $(530,947) $(185,568)
========= ========== ========== ========== ========== ==========
</TABLE>
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(1) The interest component of rent expense has been estimated by taking
the difference between the gross rent expense and net present value
of rent expense using a weighted-average cost of capital of
approximately 13% for the years ended December 31, 1995, through
December 31, 1998. The weighted average cost of capital for the year
ended December 31, 1999 and the three months ended March 31, 2000,
approximates 9% and 8%, respectively. The cost of capital used to
calculate the interest component of rent expense is representative of
the Company's outstanding secured borrowings during each respective
period.
