EX-12.1 2 a2160764zex-12_1.htm EXHIBIT 12.1

Exhibit 12.1

         ImClone Systems Incorporated
Ratio of Earnings to Fixed Charges
(in thousands)

 
   Three Months
Ended March 31,
   Year Ended
  
 
   2005
   2004
   2003
   2002
   2001
   2000
  
 
   (Unaudited)

    
    
    
    
    
  
Income (loss) before taxes   $ 29,200   $ 131,014   $ (112,011 ) $ (157,224 ) $ (127,607 ) $ (70,469 )

Add:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Fixed charges     3,403     15,769     16,325     16,381     15,773     13,228  
  Amortization of capitalized interest     25     98     98     98     49     —  
Less:                                      
  Interest capitalized during the period     1,181     6,087     6,059     2,077     1,656     846  
   
 
 
 
 
 
 
Income (loss) before income taxes, as adjusted   $ 31,446   $ 140,794   $ (101,647 ) $ (142,822 ) $ (113,441 ) $ (58,087 )
   
 
 
 
 
 
 

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest (gross), including amortization of debt issuance costs
 
 
2,990
 
 
14,520
 
 
15,184
 
 
15,256
 
 
15,252
 
 
12,951
 
  Portion of rent representative of the interest factor     413     1,249     1,141     1,125     521     277  
   
 
 
 
 
 
 

Fixed charges
 
$
3,403
 
$
15,769
 
$
16,325
 
$
16,381
 
$
15,773
 
$
13,228
 
   
 
 
 
 
 
 

Deficiency of earnings available to cover fixed charges
 
$
—
 
$
—
 
$
(117,972
)
$
(159,203
)
$
(129,214
)
$
(71,315
)
   
 
 
 
 
 
 

Ratio of earnings to fixed charges
 
 
9.2:1
 
 
8.9:1
 
 
—
 
 
—
 
 
—
 
 
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