EX-12.1 2 a2164235zex-12_1.htm EXHIBIT 12.1

Exhibit 12.1

         ImClone Systems Incorporated
Ratio of Earnings to Fixed Charges
(in thousands)

 
  Six Months
Ended June 30,

  Year Ended
 
 
  2005
  2004
  2003
  2002
  2001
  2000
 
 
  (Unaudited)

   
   
   
   
   
 
Income (loss) before taxes   $ 55,405   $ 131,014   $ (112,011 ) $ (157,224 ) $ (127,607 ) $ (70,469 )

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
  Fixed charges     6,827     15,769     16,325     16,381     15,773     13,228  
  Amortization of capitalized interest     49     98     98     98     49      
Less:                                      
  Interest capitalized during the period     2,486     6,087     6,059     2,077     1,656     846  
   
 
 
 
 
 
 
Income (loss) before income taxes, as adjusted   $ 59,795   $ 140,794   $ (101,647 ) $ (142,822 ) $ (113,441 ) $ (58,087 )
   
 
 
 
 
 
 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 
Interest (gross), including amortization of debt issuance costs

 

$

5,982

 

$

14,520

 

$

15,184

 

$

15,256

 

$

15,252

 

$

12,951

 
  Portion of rent representative of the interest factor     845     1,249     1,141     1,125     521     277  
   
 
 
 
 
 
 

Fixed charges

 

$

6,827

 

$

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

 

 

8.8:1

 

 

8.9:1