Attached files
| file | filename |
|---|---|
| 10-K - ENZON PHARMACEUTICALS, INC. | c60623_10k.htm |
| EX-23 - ENZON PHARMACEUTICALS, INC. | c60623_ex23.htm |
| EX-32.2 - ENZON PHARMACEUTICALS, INC. | c60623_ex32-2.htm |
| EX-31.1 - ENZON PHARMACEUTICALS, INC. | c60623_ex31-1.htm |
| EX-31.2 - ENZON PHARMACEUTICALS, INC. | c60623_ex31-2.htm |
| EX-32.1 - ENZON PHARMACEUTICALS, INC. | c60623_ex32-1.htm |
| EX-21.1 - ENZON PHARMACEUTICALS, INC. | c60623_ex21-1.htm |
EXHIBIT 12.1
ENZON PHARMACEUTICALS, INC. AND SUBSIDIARIES
Ratio of Earnings to Fixed Charges
(in thousands)
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Year Ended December 31, |
Six Months |
Year |
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2009 |
2008 |
2007 |
2006 |
2005 |
2005 |
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Determination of earnings: |
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Income (loss) from continuing operations before income taxes |
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$ |
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(1,626 |
) |
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$ |
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(2,411 |
) |
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$ |
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84,986 |
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$ |
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22,067 |
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$ |
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(302,284 |
) |
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$ |
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(11,662 |
) |
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Add: |
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Fixed Charges |
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12,300 |
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13,450 |
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18,131 |
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22,590 |
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10,103 |
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20,287 |
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Earnings, as adjusted |
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$ |
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10,674 |
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$ |
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11,039 |
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$ |
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103,117 |
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$ |
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44,657 |
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$ |
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(292,181 |
) |
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$ |
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8,625 |
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Fixed charges: |
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Interest expense (gross)(1) |
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$ |
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11,514 |
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$ |
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12,681 |
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$ |
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17,380 |
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$ |
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22,055 |
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$ |
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9,841 |
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$ |
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19,829 |
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Portion of rent representative of the interest factor(2) |
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786 |
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769 |
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751 |
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535 |
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262 |
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458 |
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Fixed charges |
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$ |
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12,300 |
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$ |
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13,450 |
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$ |
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18,131 |
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$ |
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22,590 |
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$ |
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10,103 |
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$ |
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20,287 |
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Deficiency of earnings available to cover fixed charges |
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$ |
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(1,626 |
) |
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$ |
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(2,411 |
) |
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N/A |
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N/A |
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$ |
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(302,284 |
) |
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$ |
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(11,662 |
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Ratio of earnings to fixed charges |
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N/A |
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N/A |
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6:1 |
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2:1 |
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N/A |
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N/A |
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(1) |
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Interest expense includes amortization of deferred issuance costs of $1.0 million, $1.1 million, $1.6 million, $1.8 million, $976,000 and $1.8 million for the years ended December 31, 2009, 2008, 2007 and 2006, the six months ended December 31, 2005 and the fiscal year ended June 30, 2005, respectively. |
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(2) |
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Approximately 33 percent of annual rent expense is included in the computation. The Company believes this is a reasonable estimate of the interest factor in its leases, which are not material. The underlying rent amounts were $2.4 million, $2.3 million, $2.3 million, $1.6 million, $795,000 and $1.4 million for the years ended December 31, 2009, 2008, 2007 and 2006, the six months ended December 31, 2005 and the fiscal year ended June 30, 2005, respectively. |
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