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S-3/A Filing
INNOVATE (VATE) S-3/AShelf registration (amended)
Filed: 16 Jan 04, 12:00am
COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES (IN THOUSANDS)
| Year Ended December 31, | Nine Months Ended September 30, | ||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2002 | 2001 | 2000 | 1999 | 1998 | 2003 | 2002 | |||||||||||||||
Earnings: | ||||||||||||||||||||||
Income (loss) before provision for income taxes, equity in loss of unconsolidated affiliate and cumulative effect of change in accounting principle | $ | (27,228 | ) | (301,176 | ) | $ | (174,664 | ) | $ | (112,736 | ) | $ | (63,648 | ) | $ | 40,753 | $ | (13,867 | ) | |||
Less: Minority interest | (446 | ) | (132 | ) | (72 | ) | (291 | ) | — | (311 | ) | (370 | ) | |||||||||
Less: Equity investment | (3,225 | ) | — | — | — | — | (688 | ) | (298 | ) | ||||||||||||
Total Earnings: | (23,557 | ) | (301,044 | ) | (174,592 | ) | (112,445 | ) | (63,648 | ) | 41,752 | (13,199 | ) | |||||||||
Fixed Charges: | ||||||||||||||||||||||
Interest expense | 68,303 | 100,700 | 132,137 | 79,629 | 40,047 | 46,691 | 52,085 | |||||||||||||||
Estimated interest component of rent expense | 5,937 | 6,741 | 5,970 | 3,165 | 1,603 | 4,300 | 4,605 | |||||||||||||||
Total Fixed Charges | $ | 74,240 | $ | 107,441 | $ | 138,107 | $ | 82,794 | $ | 41,650 | $ | 50,991 | $ | 56,690 | ||||||||
Ratio of earnings to fixed charges (1) | < 0 | < 0 | < 0 | < 0 | < 0 | 1.8188 | 0.7672 |