Attached files
Exhibit
12
AMPAL-AMERICAN
ISRAEL CORPORATION AND SUBSIDIARIES
SCHEDULE
SETTING FORTH THE COMPUTATION OF RATIOS OF CONSOLIDATED
EARNINGS
TO FIXED CHARGES
(Amounts
in thousands, except ratios)
|
Fiscal
Year Ended December 31,
|
||||||||||||||||||||
|
2009
|
2008
|
2007
|
2006 | 2005 | ||||||||||||||||
| (U.S. Dollars in thousands) | ||||||||||||||||||||
|
Earnings:
|
||||||||||||||||||||
|
Income
(loss) from continuing operations (including dividends from less than 50%
owned affiliates) before income taxes, equity in earnings of affiliates,
and minority interests
|
$ | (29,694 | ) | $ | (15,808 | ) | $ | (15,919 | ) | $ | (1,208 | ) | $ | (8,517 | ) | |||||
|
Fixed
charges
|
32,869 | 41,143 | 10,122 | 5,154 | 5,257 | |||||||||||||||
|
Earnings
(insufficient earning to cover fixed charges)
|
$ | 3,175 | $ | 25,335 | $ | (5,797 | ) | $ | 4,126 | $ | (3,260 | ) | ||||||||
|
Fixed
charges:
|
||||||||||||||||||||
|
Interest
|
$ | 32,283 | $ | 40,733 | $ | 9,969 | $ | 5,134 | $ | 5,257 | ||||||||||
|
Amortization
of debentures expenses
|
586 | 410 | 153 | 20 | -- | |||||||||||||||
|
Fixed
charges
|
$ | 32,869 | $ | 41,143 | $ | 10,122 | $ | 5,154 | $ | 5,257 | ||||||||||
|
Ratio
of earnings (deficit) to fixed charges
|
* | * | * | * | * | |||||||||||||||
* Due
to the loss in 2009, 2008, 2007, 2006 and 2005, the ratio coverage was less than
1:1. The registrant must generate additional earnings of $29,694,
$15,808, $5,797, 1,208 and $3,260 thousands in 2009, 2008, 2007, 2006 and 2005,
respectively, to achieve a coverage ratio of 1:1.