EX-12.1 5 h97604exv12w1.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES FIRSTCITY FINANCIAL CORPORATION STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES, HISTORICAL BASIS (IN MILLIONS, EXCEPT RATIOS)
QUARTER ENDED YEAR ENDED MARCH 31, DECEMBER 31, ------------- ----------------------- 2002 2001 2000 ------------- -------- -------- Ratio of Earnings to Fixed Charges: Income (loss) from continuing operations before income taxes and minority interest ................. $ (806) $ 4,247 $ (4,112) Fixed charges (1): Interest expense and amortization of debt discount ...................... 1,548 8,777 18,658 Accrued dividends ........................ 642 2,568 2,568 Total fixed charges ........................ 2,190 11,345 21,226 Earnings before income taxes and fixed charges ............................ $ 1,384 $ 15,592 $ 17,114 Ratio of earnings to fixed charges .......... $ 0.63 $ 1.37 $ 0.81
---------- (1) Fixed charges consist of total interest; amortization of debt discount, premium, and expense; and the accrued dividends. FIRSTCITY FINANCIAL CORPORATION STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES, PRO FORMA BASIS (IN MILLIONS, EXCEPT RATIOS)
QUARTER ENDED YEAR ENDED MARCH 31, 2002 DECEMBER 31, 2001 -------------- ----------------- Ratio of Earnings to Fixed Charges: Income (loss) from continuing operations before income taxes and minority interest ............... $ (569) $ 1,048 Fixed charges (1): Interest expense and amortization of debt discount .................... 1,442 8,351 Accrued dividends ...................... -- -- Total fixed charges ...................... 1,442 8,351 Earnings before income taxes and fixed charges .......................... $ 873 $ 9,399 Ratio of earnings to fixed charges ........ $ 0.61 $ 1.13
---------- (1) Fixed charges consist of total interest; amortization of debt discount, premium, and expense; and the accrued dividends. 2