EX-12.1 3 v062986_ex12-1.htm

FuelCell Energy, Inc.
Statement of Computation of Ratio of Earnings
to Combined Fixed Charges and Preferred Dividends
 
Amounts presented in thousands
 
   
Fiscal Years Ended October 31,
  
   
2006
  
2005
  
2004
  
2003
  
2002
  
Earnings (loss):
                      
Pre-tax (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees
  
$
(75,151
)
$
(65,381
)
$
(87,289
)
$
(67,414
)
$
(48,833
)
Add:
                                
Fixed Charges
    
8,327
   
6,305
    
1,227
   
287
   
335
 
Amortization of previously capitalized interest
    
-
   
-
    
7
   
13
   
13
 
Less:
                                
Preferred dividends
    
8,117
    
6,077
    
947
             
Interest capitalized in the period
                                
                                 
Earnings (loss) as adjusted
  
$
(74,941
)
$
(65,153
)
$
(87,002
)
$
(67,114
)
$
(48,485
)
                                 
                                 
Fixed charges:
                                
Interest expense incurred
  
$
103
  
$
103
  
$
137
  
$
128
  
$
160
  
Estimate of interest within rental expense
    
107
    
125
    
143
   
159
   
175
 
Less: interest capitalized in the period
    
-
   
-
   
-
   
-
   
-
 
Preferred dividends
    
8,117
   
6,077
    
964
   
-
   
-
 
Total fixed charges
  
$
8,327
  
$
6,305
  
$
1,244
  
$
287
  
$
335
  
                                 
Ratio of earnings to fixed charges
    
N/A
   
N/A
   
N/A
   
N/A
   
N/A
 
                                 
Coverage deficiency
  
$
(83,268
)
$
(71,458
)
$
(88,246
)
$
(67,401
)
$
(48,820
)