Loral Space & Communications 10-Q2005 Q3 Quarterly report

Filed: 9 Nov 05, 12:00am

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New words: absence, absolving, Additionally, agent, bear, belief, Chairman, claimant, contemplated, deemed, deficit, discharge, disposition, docket, docketed, extend, Extended, extensive, factual, FCC, goodwill, HK, improvement, indemnification, indenture, JPL, kind, LORL, LSPC, mediation, merger, Nasdaq, objection, Pacific, Perpetual, preliminary, proof, publicly, Receivership, recourse, reluctance, response, responsible, shown, stamped, summary, thereto, tradeable, Twenty, unliquidated, unpaid, Vice, voluntarily

Removed: accelerating, addressed, assume, check, conducted, consensual, filer, identification, incorporation, IRS, listing, mark, minimal, prepaid, prepayment, public, reflecting, refund, reject, settling, Telephone, tradable, unamortized

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Exhibit 12

LORAL SPACE & COMMUNICATIONS LTD., A DEBTOR IN POSSESSION

COMPUTATION OF DEFICIENCY OF EARNINGS TO COVER FIXED CHARGES


		Nine Months Ended
		September 30,

		2005			2004

		(In thousands)
		(Unaudited)
Loss from continuing operations before income taxes, equity income (losses) in affiliates and minority interest		$	(65,570	)	$	(157,187	)
Plus fixed charges:
	Interest expense		3,982			1,725
	Interest component of rent expense⁽¹⁾		4,485			5,991
Less: capitalized interest			—			(957	)

Earnings available to cover fixed charges			(57,103	)		(150,428	)
Fixed charges			(8,467	)		(7,716	)

Deficiency of earnings to cover fixed charges		$	(65,570	)	$	(158,144	)


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