EX-12.1 2 w26637exv12w1.htm EX-12.1 exv12w1
 

EXHIBIT 12.1
                                                 
    Ratio of Earnings to Fixed Charges  
    (dollars in thousands, except ratio data)  
    September 30,     December 31,     December 31,     December 31,     December 31,     December 31,  
    2006 (5)     2005     2004     2003     2002     2001  
Fixed Charges:
                                               
Interest expense on indebtedness (including amortization of debt expense and discount)
  $ 19,410     $ 17,849     $ 22,868     $ 23,723     $ 23,746     $ 24,638  
 
                                               
Interest expense on portion of rent expense representative of interest
    14,731       14,614       9,089       7,604       7,206       6,159  
 
                                   
 
                                               
Total Fixed Charges
  $ 34,141     $ 32,463     $ 31,957     $ 31,327     $ 30,952     $ 30,797  
 
                                   
 
                                               
Earnings (Loss):
                                               
Net loss before provision for income taxes
  $ (184,229 )   $ (239,439 )   $ (242,898 )   $ (185,324 )   $ (219,716 )   $ (117,152 )
Fixed Charges per above
    34,141       32,463       31,957       31,327       30,952       30,797  
 
                                   
 
                                               
Total Earnings (Loss)
  $ (150,088 )   $ (206,976 )   $ (210,941 )   $ (153,997 )   $ (188,764 )   $ (86,355 )
 
                                   
 
                                               
Ratio of Earnings to Fixed Charges
                                   
 
                                               
Coverage deficiency (1)(2)(3)(4)
  $ (184,229 )   $ (239,439 )   $ (242,898 )   $ (185,324 )   $ (219,716 )   $ (117,152 )
 
                                   
 
(1)   The Company’s Coverage deficiency for 2006 includes a charge of $16,840 relating to lease termination costs associated with one of the Company’s facilities.
 
(2)   The Company’s Coverage deficiency for 2004 includes net charges of $12,975, relating to a $15,408 charge for restructuring partially offset by a gain recognized on the extinguishment of debt of $2,433.
 
(3)   The Company’s Coverage deficiency for 2002 includes charges aggregating $46,396 arising from the Company’s impairment charge relating to its investment in CAT and a charge for construction design changes of $32,158 and $14,238, respectively.
 
(4)   The Company’s Coverage deficiency for 2001 includes charges aggregating $26,208 arising from the Company’s impairment charge relating to its investment in Transgene and debt conversion expenses of $22,314 and $3,894, respectively.
 
(5)   Amounts presented are for the nine months ended September 30, 2006.