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H.S. freshman Avg
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EXHIBIT 12.1
IMCLONE SYSTEMS INCORPORATED
RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
|
| Year Ended |
| |||||||||||||
|
| 2006 |
| 2005 |
| 2004 |
| 2003 |
| 2002 |
| |||||
Income (loss) before taxes |
| $ | 320,320 |
| $ | 88,074 |
| $ | 131,014 |
| $ | (112,011 | ) | $ | (157,224 | ) |
Add: |
|
|
|
|
|
|
|
|
|
|
| |||||
Fixed charges |
| 13,715 |
| 13,700 |
| 15,769 |
| 16,325 |
| 16,381 |
| |||||
Amortization of capitalized interest |
| 1,007 |
| 98 |
| 98 |
| 98 |
| 98 |
| |||||
Less: |
|
|
|
|
|
|
|
|
|
|
| |||||
Interest capitalized during the period |
| 2,640 |
| 5,394 |
| 6,087 |
| 6,059 |
| 2,077 |
| |||||
Income (loss) before income taxes, as adjusted |
| $ | 332,402 |
| $ | 96,478 |
| $ | 140,794 |
| $ | (101,647 | ) | $ | (142,822 | ) |
Fixed Charges: |
|
|
|
|
|
|
|
|
|
|
| |||||
Interest (gross), including amortization of debt issuance |
| 11,963 |
| 11,963 |
| 14,520 |
| 15,184 |
| 15,256 |
| |||||
Portion of rent representative of the interest factor |
| 1,752 |
| 1,737 |
| 1,249 |
| 1,141 |
| 1,125 |
| |||||
Fixed charges |
| $ | 13,715 |
| $ | 13,700 |
| $ | 15,769 |
| $ | 16,325 |
| $ | 16,381 |
|
Deficiency of earnings available to cover fixed charges |
| $ | — |
| $ | — |
| $ | — |
| $ | (117,972 | ) | $ | (159,203 | ) |
Ratio of earnings to fixed charges |
| 24.2:1 |
| 7.0:1 |
| 8.9:1 |
| — |
| — |
|