Exhibit 12.1
SIRIUS SATELLITE RADIO INC.
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
THREE MONTHS
YEARS ENDED DECEMBER 31, ENDED MARCH 31,
-------------------------------------------- ----------------
1996 1997 1998 1999 2000 2000 2001
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Earnings:
Pretax loss from continuing
operations $(2,831) $(4,737) $(46,101) $(62,822) $(134,744) $(24,811) $(54,089)
Add:
Interest and other financial
charges expended 13 1,946 14,272 16,805 33,595 5,866 18,380
Interest factor attributable
to rentals 66 92 647 1,539 1,806 373 639
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Earnings, as adjusted, from $(2,752) $(2,699) $(31,182) $(44,478) $(99,343) $(18,572) $(35,070)
continuing operations --------- --------- --------- -------- -------- -------- --------
Fixed charges:
Interest and other financial
charges expended $13 $1,946 $14,272 $16,805 $33,595 $5,866 $18,380
Interest capitalized - 23 16,243 56,567 63,728 17,518 4,362
Interest factor attributable
to rentals 66 92 647 1,539 1,806 373 639
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Total fixed charges $79 $2,061 $31,162 $74,911 $99,129 $23,757 $23,381
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Ratio of earnings to fixed
charges (1) - - - - - - -
Deficiency of earnings to
fixed charges $2,831 $4,760 $62,344 $119,389 $198,472 $42,329 $58,451
Fixed charges from above 79 2,061 31,162 74,911 99,129 23,757 23,381
Preferred stock dividends - 54,313 37,557 34,159 48,971 18,950 10,334
--------- --------- --------- -------- -------- -------- --------
Combined fixed charges and
preferred stock dividends $79 $56,374 $68,719 $109,070 $148,100 $42,707 $33,715
--------- --------- --------- -------- -------- -------- --------
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Ratio of earnings to combined
fixed charges and preferred
stock dividends (2) - - - - - - -
Deficiency of earnings to
combined fixed charges and
preferred stock dividends $2,831 $59,073 $99,901 $153,548 $247,443 $61,279 $68,785
(1) The ratio of earnings to fixed charges was less than 1.00 for all periods
presented and thus earnings available for fixed charges were inadequate to
cover fixed charges for these periods.
(2) The ratio of earnings to combined fixed charges and preferred stock
dividends was less than 1.00 for all periods presented and thus earnings
available for combined fixed charges and preferred stock dividends were
inadequate to cover combined fixed charges and preferred stock dividends
for these periods.