iHeartMedia 2000 Annual Report Download - page 49
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49
Inflation
Inflation has affected our performance in terms of higher costs for wages, salaries and equipment.
Although the exact impact of inflation is indeterminable, we believe we have offset these higher costs by
increasing the effective advertising rates of most of our broadcasting stations and outdoor display faces.
Ratio
The ratio of earnings to fixed charges is as follows:
Year Ended December 31,
2000 1999 1998 1997 1996
2.20 2.04 1.83 2.32 3.63
The ratio of earnings to fixed charges was computed on a total enterprise basis. Earnings
represent income from continuing operations before income taxes less equity in undistributed net income
(loss) of unconsolidated affiliates plus fixed charges. Fixed charges represent interest, amortization of
debt discount and expense, and the estimated interest portion of rental charges. We had no preferred
stock outstanding for any period presented.
ITEM 7A. Quantitative and Qualitative Disclosures about Market Risk.
Required information is within Item 7