EX-12.1 9 y91982exv12w1.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES . . . Exhibit 12.1 Innova, S. de R.L. de C.V. Ratio of earnings to fixed charges
Millions of Mexican Pesos in purchasing power as of: ---------------------------------------------------------------------------- December 31, 2002 June 30, 2003 ---------------------------------------------------------------------------- MEXICAN GAAP: 1998 1999 2000 2001 2002 Jan-Jun'02 Jan-Jun'03 ---- ---- ---- ---- ---- ---------- ---------- Consolidated income (loss) from continuing operations before provisions for income tax and employees' profit sharing (2,281.7) (1,000.6) (1,858.5) (363.2) (1,693.3) (1,070.1) (234.0) plus: amortization of capitalized interest and fixed charges 719.5 711.4 757.5 922.5 1,002.4 488.0 531.1 less: capitalized interest costs -- -- -- -- -- -- -- ---------------------------------------------------------------------------- Net Earnings (1,562.2) (289.2) (1,101.0) 559.3 (690.9) (582.1) 297.1 ------------------------------------------------------------------------------------------------------------------------------------ Interest expense (expensed or capitalized) 703.2 695.9 742.6 903.9 983.1 478.0 522.3 plus: amortization of debt expense and discount related to indebtedness 13.5 12.0 11.0 10.5 10.0 5.2 5.0 plus: estimated interest portion of rent expenses (estimated to be 1/3 of rents) 2.9 3.4 3.9 8.1 9.4 4.8 3.8 ---------------------------------------------------------------------------- Fixed Charges 719.5 711.4 757.5 922.5 1,002.4 488.0 531.1 ---------------------------------------------------------------------------- RATIO OF EARNINGS TO FIXED CHARGES -2.2x -0.4x -1.5x 0.6x -0.7x -1.2x 0.6x ------------------------------------------------------------------------------------------------------------------------------------ Earnings were insufficient to cover fixed charges by: 2,281.7 1,000.6 1,858.5 -- 1,693.3 1,070.1 --
Innova, S. de R.L. de C.V. Ratio of earnings to fixed charges
Millions of Mexican Pesos in purchasing power as of: ---------------------------------------------------------------------------- December 31, 2002 June 30, 2003 ---------------------------------------------------------------------------- US GAAP: 1998 1999 2000 2001 2002 Jan-Jun'02 Jan-Jun'03 ---- ---- ---- ---- ---- ---------- ---------- Consolidated income (loss) from continuing operations before provisions for income tax and employees' profit sharing (3,797.3) (853.7) (1,408.3) (884.4) (1,724.3) (1,105.7) (229.9) plus: amortization of capitalized interest and fixed charges 842.9 724.1 756.3 920.6 1,002.4 488.0 531.1 less: capitalized interest costs -- -- -- -- -- -- -- ---------------------------------------------------------------------------- Net Earnings (2,954.4) (129.5) (652.0) 36.2 (721.8) (617.7) 301.2 ------------------------------------------------------------------------------------------------------------------------------------ Interest expense (expensed or capitalized) 826.6 708.7 741.4 902.0 983.1 478.0 522.3 plus: amortization of debt expense and discount related to indebtedness 13.5 12.0 11.0 10.5 10.0 5.2 5.0 plus: estimated interest portion of rent expenses (estimated to be 1/3 of rents) 2.9 3.4 3.9 8.1 9.4 4.8 3.8 ---------------------------------------------------------------------------- Fixed Charges 842.9 724.1 756.3 920.6 1,002.4 488.0 531.1 ------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------------------------------------------------- RATIO OF EARNINGS TO FIXED CHARGES -3.5x -0.2x -0.9x 0.0x -0.7x -1.3x 0.6x ------------------------------------------------------------------------------------------------------------------------------------ Earnings were insufficient to cover fixed charges by: 3,797.3 853.7 1,408.3 -- 1,724.3 1,105.7 --