EXHIBIT 12.1 CB RICHARD ELLIS SERVICES, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS (DOLLARS IN THOUSANDS)
YEAR ENDED DECEMBER 31, ----------------------------------------- 2000 1999 1998 1997 1996 -------- -------- ------- ------- ------- Income before provision for income tax................................. $ 68,139 $ 39,461 $50,483 $45,906 $25,809 Less: Equity earnings of unconsolidated subsidiaries......... 7,112 7,528 3,443 -- 145 Preferred stock dividends (1)........ -- -- -- 6,557 1,639 Add: Distributed earnings of unconsolidated subsidiaries......... 8,389 12,662 2,267 1,440 89 Fixed charges........................ 60,448 56,524 42,089 30,654 32,136 -------- -------- ------- ------- ------- Total earnings before fixed charges........................... $129,864 $101,119 $91,396 $71,443 $56,250 ======== ======== ======= ======= ======= Fixed Charges: Portion of rent expense representative of the interest factor (2)......................... $ 18,748 $ 17,156 $11,042 $ 8,317 $ 6,374 Interest expense.................... 41,700 39,368 31,047 15,780 24,123 Preferred stock dividends (1)....... -- -- -- 6,557 1,639 -------- -------- ------- ------- ------- Total fixed charges................ $ 60,448 $ 56,524 $42,089 $30,654 $32,136 ======== ======== ======= ======= ======= Ratio of earnings to fixed charges... 2.15 1.79 2.17 2.33 1.75 ======== ======== ======= ======= =======
- -------- (1) Preferred stock dividend requirements have been reflected at their pre-tax amounts. The 1998 amount does not reflect the deemed dividend associated with the Company's repurchase of convertible preferred stock for $32.3 million. (2) Represents one-third of operating lease costs which approximates the portion that relates to the interest portion.