EX-12 5 a2171428zex-12.htm EX-12
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Exhibit 12

RATIO OF EARNINGS TO FIXED CHARGES

The following table sets forth the historical ratios of our earnings to our fixed charges for the periods indicated:

	Three Months Ended March 31,				Year ended December 31,
	2006		2005		2005		2004		2003		2002⁽¹⁾		2001
	Reorganized Company		Reorganized Company		Reorganized Company		Reorganized Company		Reorganized Company		Predecessor Company		Predecessor Company
	(in millions)
Fixed charges:
Interest	£83.8		£70.1		£235.8		£271.0		£459.9		£519.3		£929.6
Interest portion of rental expense	4.1		3.7		14.2		14.9		14.9		28.9		14.9

Fixed charges	£87.9		£73.8		£250.0		£285.9		£474.8		£548.2		£944.5

Earnings:
Loss from continuing operations before income taxes, minority interest and cumulative effect of change in accounting principle	£(121.5	)	£(54.6	)	£(221.9	)	£(504.4	)	£(606.6	)	£(1,617.4	)	£(7,882.6	)
Fixed charges	87.9		73.8		250.0		285.9		474.8		548.2		944.5
Less: capitalized interest	—		—		—		—		(3.4	)	(30.8	)	(47.0	)

	£(33.6	)	£19.2		£28.1		£(218.5	)	£(135.2	)	£(1,100.0	)	£(6,985.1	)

Ratio of earnings to fixed charges deficiency	£(121.5	)	£(54.6	)	£(221.9	)	£(504.4	)	£(610.0	)	£(1,648.2	)	£(7,929.6	)

(1): In accordance with SOP-97, the Company discontinued accruing interest on certain of its debt. For the year ended December 31, 2002, contractual interest was £948.7 million, which was £429.4 million in excess of reported interest expense.

The ratio of earnings to fixed charges and combined fixed charges is not meaningful for the periods that result in a deficit.