Frontier Communications Corp – ‘10-K’ for 12/31/02 – EX-12

On:  Monday, 3/24/03, at 5:23pm ET   ·   For:  12/31/02   ·   Accession #:  20520-3-3   ·   File #:  1-11001

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        2002 Form 10-K                                        89    543K 
 2: EX-3.200.3  Amendment to By-Laws                                   1      6K 
 3: EX-10.11    Material Contract -- kauaiagreement                   52    239K 
 4: EX-10.12    Asset Purchase Agreement Hawaii                       84    340K 
 5: EX-10.13    Arizona Gas Asset Purhcase Agreement                  80    319K 
 6: EX-10.14    Arizona Electric Asset Purchase Agreement             80    320K 
 7: EX-10.15    Building Purchase Agreement                           29    105K 
 8: EX-12       Exhibit 12 Comp of Ratio                               2     17K 
 9: EX-21       Subsidiary List                                        3     16K 
10: EX-23       Consent of Experts or Counsel -- kpmgconsent           1      9K 
11: EX-99       Miscellaneous Exhibit -- certification906              3     12K 

EX-12   —   Exhibit 12 Comp of Ratio

EX-12
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                                                                                                                       Exhibit 12  
                                                                                                                       ----------  
                                                                                                                       Page 1      
                        Citizens Communications Company                                                                            
           Statements of the Ratio of Earnings to Fixed Charges (a)                                                                
                             (Dollars in Thousands)                                                                                
                                  (Unaudited)                                                                                      
                                                                                   Years Ended December 31,                        
                                                           ------------------------------------------------------------------------
                                                              2002           2001             2000           1999            1998  
                                                           ------------  -------------    -------------  -------------   ----------
                                                                                                                                   
Pre-tax income (loss) from continuing operations before                                                                            
dividends on convertible preferred securities,                                                                                     
extraordinary expense and cumulative effect of changes                                                                             
in accounting principle                                    $(1,231,640)   $ (72,521)       $ (49,993)     $  217,709    $  69,314  

(Income) or loss from equity investees                        (780,251)      (1,799)          (1,935)         (2,019)      (1,163) 

Minority interest                                                    -            -          (12,222)        (23,227)     (14,032) 
                                                           ------------  -------------    -------------  -------------   ----------

Pre-tax income (loss) from continuing operations before                                                                            
   adjustment for minority interest in consolidated                                                                                
   subsidiaries or (income) or loss from equity investees   (2,011,891)     (74,320)         (64,150)        192,463       54,119  

Fixed charges                                                  492,191      401,437          206,650         142,847      125,798  

Amortization of capitalized interest                                 -            -                -               -            -  

Distributed income of equity investees                           1,400        2,350              800             600        1,100  

Interest capitalized                                            (7,390)      (5,675)          (4,766)         (8,681)     (10,444) 

Carrying cost of equity forward contracts                            -      (13,650)               -               -            -  

Preference security dividend requirements of consolidated                                                                          
   subsidiaries                                                (10,063)     (10,063)         (10,063)        (10,063)     (10,063) 
                                                           ------------  -------------    -------------  -------------   ----------

Total earnings                                              (1,535,753)     300,079          128,471         317,166      160,510  
                                                           ------------  -------------    -------------  -------------   ----------

Ratio of earnings to fixed charges                               (3.12)        0.75             0.62            2.22         1.28  
                                                           ============  =============    =============  =============   ==========

Note :  The above calculation was performed in accordance with Regulation S-K 229.503(d) Ratio of earnings to fixed charges.       

(a)  For the years ended December 31, 2002, 2001 and 2000, earnings were insufficient to cover fixed charges by $2.03 billion,     
     $101.4 million and $78.2 million, respectively.                                                                               

EX-12
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                                                                                                                       Exhibit 12 
                                                                                                                       Page 2     
                        Citizens Communications Company                                                                           
            Statements of the Ratio of Earnings to Combined Fixed Charges and Preferred Dividends (a)                             
                             (Dollars in Thousands)                                                                               
                                  (Unaudited)                                                                                     
                                                                                       Years Ended December 31,                   
                                                                   ---------------------------------------------------------------
                                                                        2002         2001        2000         1999         1998   
                                                                   ------------- ----------- ----------- ------------- -----------
                                                                                                                                  
Pre-tax income (loss) from continuing operations before                                                                           
dividends on convertible preferred securities, extraordinary                                                                      
expense and cumulative effect of changes in principle               $(1,231,640)  $ (72,521)   $ (49,993)  $ 217,709   $  69,314  

(Income) or loss from equity investees                                 (780,251)     (1,799)      (1,935)     (2,019)     (1,163) 

Minority interest                                                             -           -      (12,222)    (23,227)    (14,032) 
                                                                   ------------- ----------- ----------- ------------- -----------

Pre-tax income (loss) from continuing operations before                                                                           
   adjustment for minority interest in consolidated subsidiaries                                                                  
   or (income) or loss from equity investees                         (2,011,891)    (74,320)     (64,150)    192,463      54,119  

Fixed charges                                                           502,255     425,150      216,713     152,910     135,861  

Amortization of capitalized interest                                          -           -            -           -           -  

Distributed income of equity investees                                    1,400       2,350          800         600       1,100  

Interest capitalized                                                     (7,390)     (5,675)      (4,766)     (8,681)    (10,444) 

Preference security dividend requirements of consolidated                                                                         
  subsidiaries                                                          (10,063)    (10,063)     (10,063)    (10,063)    (10,063) 

Carrying cost of equity forward contracts                                     -     (13,650)           -           -           -  
                                                                   ------------- ----------- ----------- ------------- -----------

Total earnings                                                      $(1,525,689)  $ 323,792    $ 138,534   $ 327,229   $ 170,573  
                                                                   ------------- ----------- ----------- ------------- -----------

Ratio of earnings to combined fixed charges                               (3.04)       0.76         0.64        2.14        1.26  
                                                                   ============= =========== =========== ============= ===========

Note :  The above calculation was performed in accordance with Regulation S-K 229.503(d) Ratio of earnings to fixed charges.      

(a)  For the years ended December 31, 2002, 2001 and 2000, earnings were insufficient to cover combined fixed charges             
     by $2.03 billion,  $101.4 million and $78.2 million, respectively.                                                           

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘10-K’ Filing		Date		First		Last			Other Filings
Filed on:		3/24/03
For Period End:		12/31/02		1		2			10-K/A,  4,  4/A,  8-K
		12/31/01		1		2			10-K,  11-K
		12/31/00		1		2			10-K,  11-K,  8-K
									List all Filings