EX-12 5 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12

 

     For the Year Ended  
     December 31,
2005
    December 25,
2004
    December 27,
2003
    December 28,
2002
   December 20,
2001
 

Fixed charges

           

Interest expense

   3,098     2,199     1,350     2,130    2,128  

Interest capitalized

   106     326     83     —      5,202  

Capitalized expenses related to indebtedness

   —       —       —       —      —    

Estimate of interest within rental expense

   183     156     149     218    422  

Preference security dividend

   —       —       —       —      —    
                             

Total fixed charges

   3,387     2,681     1,582     2,348    7,752  

Earnings

           

Pretax income from continuing operations

   (129,872 )   (39,992 )   (12,215 )   1,738    115,769  

Fixed charges

   3,387     2,681     1,582     2,348    7,752  

Amortization of capitalized interest

   1,277     1,266     1,273     1,274    148  

Interest capitalized

   (106 )   (326 )   (83 )   —      (5,202 )
                             

Total earnings

   (125,314 )   (36,371 )   (9,443 )   5,360    118,467  

Ratio

           

Adjusted Earnings

   (125,314 )   (36,371 )   (9,443 )   5,360    118,467  

Total Fixed charges

   3,387     2,681     1,582     2,348    7,752  
                             

Ratio of Earnings to fixed charges

   N/A     N/A     N/A     2.3    15.3  
                             

For the years ended December 27, 2003, December 25, 2004 and December 31, 2005, Nabi Biopharmaceuticals did not generate sufficient earnings to cover its fixed charges by the following amounts:

 

     For the Year Ended

Dollar amounts in thousands

   Dec. 31,
2005
   Dec. 25,
2004
   Dec. 27,
2003
   Dec. 28,
2002
   Dec. 29,
2001

Coverage deficiency

   $ 128,701    $ 39,052    $ 11,025    N/A    N/A