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 | — | — | — | — | ||||||||||||||