Attached files
| file | filename |
|---|---|
| 8-K - 8-K - Iridium Communications Inc. | d721062d8k.htm |
| EX-99.1 - EX-99.1 - Iridium Communications Inc. | d721062dex991.htm |
Exhibit 12.1
| Three Months Ended March 31, |
Year Ended December 30, | |||||||||||||||||||||||||||
| 2014 | 2013 | 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||||
| Earnings Available Before Fixed Charges: |
||||||||||||||||||||||||||||
| Pre-Tax Income (Loss) |
$ | 27,132 | $ | 22,483 | $ | 110,465 | $ | 95,018 | $ | 65,581 | $ | 34,612 | $ | (46,040 | ) | |||||||||||||
| Add: Fixed Charges |
19,361 | 12,403 | 66,055 | 30,455 | 14,106 | 3,215 | 1,268 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Total Additive Items |
46,493 | 34,886 | 176,520 | 125,473 | 79,687 | 37,827 | (44,772 | ) | ||||||||||||||||||||
| Less: Capitalized Interest |
(15,566 | ) | (10,394 | ) | (52,136 | ) | (25,409 | ) | (12,825 | ) | (1,694 | ) | — | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Total Earnings Available For Fixed Charges |
$ | 30,927 | $ | 24,492 | $ | 124,384 | $ | 100,064 | $ | 66,862 | $ | 36,133 | $ | (44,772 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Interest Expense |
$ | 100 | $ | 64 | $ | 583 | $ | 114 | $ | 42 | $ | 23 | $ | 51 | ||||||||||||||
| Interest Capitalized |
15,566 | 10,394 | 52,136 | 25,409 | 12,825 | 1,694 | — | |||||||||||||||||||||
| Amortization of Deferred Financing Fees |
3,508 | 1,715 | 12,475 | 3,896 | — | — | — | |||||||||||||||||||||
| Estimated Interest Component of Rent Expense |
187 | 230 | 861 | 1,036 | 1,239 | 1,498 | 1,217 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Total Fixed Charges |
$ | 19,361 | $ | 12,403 | $ | 66,055 | $ | 30,455 | $ | 14,106 | $ | 3,215 | $ | 1,268 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Ratio of Earnings to Fixed Charges |
1.60 | 1.97 | 1.88 | 3.29 | 4.74 | 11.24 | (a | ) | ||||||||||||||||||||
| Total Fixed Charges |
$ | 19,361 | $ | 12,403 | $ | 66,055 | $ | 30,455 | $ | 14,106 | $ | 3,215 | $ | 1,268 | ||||||||||||||
| Pre-tax Preferred Dividends |
1,750 | 1,750 | 7,000 | 1,692 | — | — | — | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Total Fixed Charges Plus Preferred Dividends |
$ | 21,111 | $ | 14,153 | $ | 73,055 | $ | 32,147 | $ | 14,106 | $ | 3,215 | $ | 1,268 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| Ratio of Earnings to Combined Fixed Charges and Preferred Dividends |
1.46 | 1.73 | 1.70 | 3.11 | 4.74 | 11.24 | (a | ) | ||||||||||||||||||||
| (a) Earnings for the 12 months ended December 31, 2009 were inadequate to cover fixed charges and combined fixed charges and preferred dividends. The coverage deficienct was $44.8 million. |