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Previous: CROWN CASTLE INTERNATIONAL CORP, S-3/A, EX-5.1, 2000-07-17 |
Next: ETOYS INC, S-3/A, 2000-07-17 |
<PAGE>
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)
<TABLE>
<CAPTION>
Three Months
YEARS ENDED DECEMBER 31, Ended
--------------------------------------------------------- March 31,
1995 1996 1997 1998 1999 2000
---- ---- ---- ---- ---- ------------
<S> <C> <C> <C> <C> <C> <C>
Computation of Earnings:
Income (loss) before income taxes,
minority interests, extraordinary
item and cumulative effect of change
in accounting principle $ (21) $ (947) $(11,893) $(35,747) $(91,316) $(30,508)
Add:
Fixed charges (as computed below) 1,214 1,912 9,825 32,296 126,675 46,557
Equity in losses (earnings) of
unconsolidated affiliate -- -- 1,138 (2,055) -- --
------ ------- -------- -------- -------- --------
$1,193 $ 965 $ (930) $ (5,506) $ 35,359 $ 16,049
====== ======= ======== ======== ======== ========
Computation of Fixed Charges and Combined
Fixed Charges and Preferred Stock
Dividends:
Interest expense $1,101 $ 1,748 $ 7,095 $ 11,179 $ 60,971 $ 22,622
Amortization of deferred financing
costs and discounts on long-term debt 36 55 2,159 17,910 49,937 19,139
Interest component of operating lease
expense 77 109 571 3,207 15,767 4,796
------ ------- -------- -------- -------- --------
Fixed charges 1,214 1,912 9,825 32,296 126,675 46,557
Preferred stock dividends -- -- 2,199 5,411 28,881 11,493
------ ------- -------- -------- -------- --------
Combined fixed charges and preferred
stock dividends $1,214 $ 1,912 $ 12,024 $ 37,707 $155,556 $ 58,050
====== ======= ======== ======== ======== ========
Ratio of Earnings to Fixed Charges -- -- -- -- -- --
====== ======= ======== ======== ======== ========
Deficiency of Earnings to Cover Fixed
Charges $ 21 $ 947 $ 10,755 $ 37,802 $ 91,316 $ 30,508
====== ======= ======== ======== ======== ========
Ratio of Earnings to Combined Fixed
Charges and Preferred Stock Dividends -- -- -- -- -- --
====== ======= ======== ======== ======== ========
Deficiency of Earnings to Cover Combined
Fixed Charges and Preferred Stock
Dividends $ 21 $ 947 $ 12,954 $ 43,213 $120,197 $ 42,001
====== ======= ======== ======== ======== ========
</TABLE>
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