EX-12.1 5 y87547exv12w1.txt RATIO OF EARNINGS TO FIXED CHARGES . . . EXHIBIT 12.1 IMCLONE SYSTEMS INCORPORATED RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS)
YEAR ENDED DECEMBER 31, ------------------------------------------------------------------- 2002 2001 2000 1999 1998 --------- ---------- ---------- --------- --------- RESTATED(1) RESTATED(1) RESTATED(1) RESTATED(1) (IN THOUSANDS) Net loss ......................... $(157,949) $(127,607) $ (70,469) $ (34,739) $ (21,523) Add: Fixed charges .................. 16,381 15,773 13,228 796 765 Less: Capitalized interest ............. 2,077 1,656 846 204 -- --------- --------- --------- --------- --------- Net loss, as adjusted ............ $(143,645) $(113,490) $ (58,087) $ (34,147) $ (20,758) ========= ========= ========= ========= ========= Fixed charges: Interest (gross), including amortization of debt issuance costs .......................... 15,256 15,252 12,951 526 576 Portion of rent representative of the interest factor ............ 1,125 521 277 270 189 --------- --------- --------- --------- --------- Fixed charges .................... $ 16,381 $ 15,773 $ 13,228 $ 796 $ 765 ========= ========= ========= ========= ========= Deficiency of earnings available to cover fixed charges ......... $(160,026) $(129,263) $ (71,315) $ (34,943) $ (21,523) ========= ========= ========= ========= =========
(1) As disclosed in Note 3 to our consolidated financial statements included elsewhere herein, we have restated our consolidated financial statements (a) to recognize withholding tax liabilities, related withholding tax assets and certain write-downs and (b) to recognize a tax liability and related expense attributable to our non-compliance with the terms of our 1990 IDA Bonds.