EX-12.1 2 o54639aexv12w1.htm EX-12.1 EX-12.1
Exhibit 12.1
IMAX CORPORATION
STATEMENT REGARDING COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
                                         
    Years ended December 31,
    2008   2007   2006   2005   2004
    (in thousands of U.S. dollars, except ratio data)
Earnings:
                                        
Earnings (loss) from continuing operations before Tax
     (33,510 )     (28,469 )     (11,903 )     7,007       6,444  
 
                                        
Loss (income) from equity-accounted investees
     —       —       —       —       —  
 
                                        
 
     (33,510 )     (28,469 )     (11,903 )     7,007       6,444  
 
                                        
Fixed Charges:
                                        
Interest expense
     16,280       15,825       15,651       15,665       15,906  
 
                                        
Amortization of capitalized expenses related to indebtedness
     1,427       1,268       1,108       1,210       1,164  
 
                                        
Assumed interest portion of rental payments
     1,143       1,105       988       919       757  
 
                                        
 
     18,850       18,198       17,747       17,794       17,827  
 
                                        
Ratio of Earnings to Fixed Charges
     (0.78 )(1)     (0.56 )(2)     0.33 (3)     1.39       1.36  
 
(1)   The ratio of earnings to fixed charges was less than 1:1 for the year ended December 31, 2008. In order to achieve a ratio of earnings to fixed charges of 1:1, we would have had to generate an additional $33.5 million in earnings in the year ended September 30, 2008.

 

 

(2)   The ratio of earnings to fixed charges was less than 1:1 for the year ended December 31, 2007. In order to achieve a ratio of earnings to fixed charges of 1:1, we would have had to generate an additional $28.5 million in earnings in the year ended December 31, 2007.
 
(3)   The ratio of earnings to fixed charges was less than 1:1 for the year ended December 31, 2006. In order to achieve a ratio of earnings to fixed charges of 1:1, we would have had to generate an additional $11.9 million in earnings in the year ended December 31, 2006.