EX-12 3 dex12.htm STATEMENT RE COMPUTATION OF RATIOS Statement re computation of ratios

EXHIBIT 12

ANGIOTECH

RATIO OF EARNINGS TO FIXED CHARGES

 

     Year Ended December 31,  
     2006      2007     2008     2009      2010  
     (Dollars in Thousands)  

Earnings:

             

Pre-tax income (loss) from continuing operations

    $ 20,115       $ (70,592 )    $ (754,068 )   $ (16,831 )     $ (66,885 ) 
                                          

Total Earnings

    $ 20,115       $ (70,592 )    $ (754,068 )   $ (16,831 )    $ (66,885 ) 
                                          

Fixed Charges:

             

Interest expense and amortization of capitalized expenses related to indebtedness

    $ 35,502       $ 51,748      $ 44,490      $ 38,039       $ 40,258   

Interest within rent expense

    $ 700       $ 800      $ 1,167      $ 1,067       $ 1,100   
                                          

Total Fixed Charges

    $ 36,202       $ 52,548      $ 45,657      $ 39,106       $ 41,358   
                                          

Pre-tax income (loss) from continuing operations plus fixed charges

    $ 56,317       $ (18,044 )    $ (708,411 )   $ 22,275       $ (25,527 ) 
                                          

Ratio of Earnings to Fixed Charges

      1.6         —   (1)     —   (1)     0.6        —   (1) 
                                          

Dollar amount of deficiency

      n/a       $ 70,592      $ 754,068      $ 16,831       $ 66,885   

 

(1)

Our earnings during this period were insufficient to cover fixed charges and, accordingly, ratios are not presented.