EX-12 3 y04700p1exv12.txt COMPUTATION OF EARNINGS TO FIXED CHARGES . . . Exhibit 12 PHIBRO ANIMAL HEALTH CORPORATION RATIO OF EARNINGS TO FIXED CHARGES (000 OMITTED)
6 Months Ended Fiscal Years Ended June 30, December 31, ------------------------------------------------------ -------------------- 2000 2001 2002 2003 2004 2003 2004 -------- -------- --------- -------- -------- -------- -------- Pre-tax income (loss) income from continuing operations before loss from equity investments $ 1,934 $ (9,563) $ (10,121) $ 7,960 $ 25,048 $ 26,630 $ (7,672) Interest capitalized net of amortization of capitalized interest - - (263) (73) - - - Fixed Charges: Interest expensed and capitalized and amortization of deferred debt issuance cost 14,520 17,919 18,347 17,561 20,724 9,297 11,899 Interest portion of rental expense 473 592 671 740 814 407 338 -------- -------- --------- -------- -------- -------- -------- Total fixed charges 14,993 18,511 19,018 18,301 21,538 9,704 12,237 Total earnings $ 16,927 $ 8,948 $ 8,634 $ 26,188 $ 46,586 $ 36,334 $ 4,565 Ratio of earnings to fixed charges 1.1 - - 1.4 2.2 3.7 - Deficiency in earnings available to cover fixed charges - (9,563) (10,384) - - - (7,672)