Loral Space & Communications 10Q 2004 Q1 Quarterly report | SEC Filing

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigious
Readability	H.S. sophomore Avg

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		Three Months Ended
		March 31,

		2004			2003


		(In thousands)
		(Unaudited)
Loss from continuing operations before income taxes, equity in net losses of affiliates and minority interest		$	(67,504	)	$	(53,426	)
Plus fixed charges:
	Interest expense		2,944			12,310
	Interest component of rent expense⁽¹⁾		1,891			2,319
Less: capitalized interest			(957	)		(3,804	)

Earnings available to cover fixed charges			(63,626	)		(42,601	)
Fixed charges⁽²⁾			(4,835	)		(17,989	)

Deficiency of earnings to cover fixed charges		$	(68,461	)	$	(60,590	)


⁽¹⁾	The interest component of rent expense is deemed to be approximately 25% of total rent expense.

⁽²⁾	Preferred dividends for the three months ended March 31, 2003 have not been adjusted for income taxes, due to the composition of the taxing jurisdictions underlying the Company’s operations and the resulting impact on the Company’s effective tax rate. Fixed charges includes the accrual of preferred dividends and interest on unsecured debt obligations (excluding bank debt) through July 15, 2003, the date of the Company’s Chapter 11 filing.

Loral Space & Communications 10-Q2004 Q1 Quarterly report

Content analysis