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EXHIBIT 12.1
RHYTHMS NETCONNECTIONS INC.
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COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS
Pro Forma
February 27, 1997 Three months Year ended Three months
(Inception) to Years ended December 31, ended March 31, December 31, ended March 31,
December 31, 1997 1998 1999 2000 1999 2000
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(amounts in thousands)
<S> <C> <C> <C> <C> <C> <C>
Pre-tax loss ($2,422) ($36,334) ($218,880) ($118,031) ($261,307) ($123,387)
Fixed charges:
Interest expense 1 13,779 52,537 22,164 94,964 27,520
Appropriate portion (1/3)
of rentals 15 667 7,000 4,419 7,000 4,419
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Total fixed charges 16 14,446 59,537 26,583 101,964 31,939
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Pre-tax loss plus fixed charges (2,406) (21,888) (159,343) (91,448) (159,343) (91,448)
Preferred dividend requirements
and accretion 0 0 0 2,609 46,592 11,475
Total fixed charges 16 14,446 59,537 26,583 101,964 31,939
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Total fixed charges, preferred
dividends and accretion 16 14,446 59,537 29,192 148,556 43,308
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Deficiency of earnings to
combined fixed charges and
preferred dividends ($2,422) ($36,334) ($218,880) ($120,640) ($307,899) ($134,862)
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We issued $300 million of 14% senior notes due 2010 on February 23, 2000. In
addition, our Series E preferred stock and Series F preferred stock were
issued in March 2000. Accordingly, the interest on the 14% senior notes and
the dividends related to the Series E preferred stock and Series F preferred
stock are not included in the historical information for the period from
February 27, 1997 (inception) to December 31, 1997 or for the years ended
December 31, 1998 and 1999. The interest on the 14% senior notes and the
preferred stock dividends are included in the historical information for the
three months ended March 31, 2000 from their respective issuance dates. The
pro forma amounts are calculated assuming that the 14% senior notes and the
Series E preferred stock and Series F preferred stock were outstanding since
the beginning of each of the periods presented.
