Global Crossing Ltd – ‘10-K’ for 12/31/00 – EX-12.1

On:  Monday, 4/2/01, at 10:32am ET   ·   For:  12/31/00   ·   Accession #:  950130-1-1603   ·   File #:  1-16201

in

this entire Filing. an “Entity” Search.

Show

Documents searched

and

each “hit”. the 1st “hit”.

↓↑Hints

Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                         94    548K 
 2: EX-4.5      Am No. 1 to Corporate Credit Facility                  3     17K 
 3: EX-4.7      Indenture Dated as of January 29, 2001               140    622K 
 4: EX-10.25    Registration Rights Agreement                         24    106K 
 5: EX-10.31    Supplemental Retirement Savings Plan                   8     31K 
 6: EX-10.43    Employment Agreement                                   7     35K 
 7: EX-10.44    Promissory Note                                        1      9K 
 8: EX-10.50    Promissory Note                                        1      8K 
 9: EX-12.1     Computation of Ratio of Earnings to Fixed Charges      2±     9K 
10: EX-21.1     Subsidiaries of Registrant                            10     27K 
11: EX-23.1     Consent of Arthur Andersen                             1      8K 

EX-12.1   —   Computation of Ratio of Earnings to Fixed Charges

EX-12.1
TOC
↑Top
Previous
Next
↓Bottom
Just 1st
 
                                                                    Exhibit 12.1

GLOBAL CROSSING LTD. AND SUBSIDIARIES 
RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS
(in millions) 
(Unaudited) 

                                                        [Enlarge/Download Table]


                                                                      Historical                  
                                                   -----------------------------------------------
                                                     Year ended       Year ended      Year ended  
                                                    December 31,     December 31,    December 31, 
                                                        2000             1999            1998     
                                                   --------------   --------------  --------------
                                                                                                  
FIXED CHARGES:                                                                                    
   Interest on debt and capitalized leases and       $    390         $    137         $     43   
   amortization of deferred finance fees                                                          
   Interest element on rentals                             45               23               --   
   Interest capitalized                                   208               77               50   
                                                     --------         --------         --------   
      TOTAL                                          $    643         $    237         $     93   
                                                     ========         ========         ========   

PREFERRED DIVIDENDS:                                                                              
   Amount                                            $    221         $     67         $     13   
                                                     ========         ========         ========   

   Gross up to pre-tax                               $    368         $    115         $     22   
                                                     ========         ========         ========   

EARNINGS:                                                                                         
   Income before discontinued operations,                                                         
      cumulative effect of change in                                                              
      accounting principle and extraordinary item    $ (1,308)        $      7         $    (68)  

   Add back-                                                                                      
      (Benefit) Provision for income taxes               (145)             108               33   
      Equity on losses of Affiliates                       67              (16)               3   
      Amortization of capitalized interest                 24               43                9   
      Minority partner losses                             (15)              --               --   
      Fixed charges less interest capitalized             435              160               43   
                                                     --------         --------         --------   

         TOTAL                                       $   (942)        $    302         $     20   
                                                     ========         ========         ========   
Ratio of earnings to fixed charges                                        1.27                    

Excess of fixed charges over earnings                $ (1,585)                         $    (73)  

Excess fixed charges and preferred dividends                                                      
over earnings                                        $ (1,953)        $    (50)        $    (95)