United Australia Pacific Inc – ‘10-K405’ for 12/31/96 – EX-12

As of:  Monday, 3/31/97   ·   For:  12/31/96   ·   Accession #:  1014909-97-6   ·   File #:  333-05017

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Annual Report — [x] Reg. S-K Item 405   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K405     Form 10-K                                            136    666K 
 2: EX-12       Exhibit 12.1-Ratio of Earnings to Fixed Assets         1      6K 
 3: EX-21       Exhibit 21.1-List of Subsidiaries                      1      7K 
 4: EX-24       Exhibit 24.1-Power of Attorney                         1      8K 
 5: EX-27       Exhibit 27.1-Financial Data Schedule                   2±     9K 

EX-12   —   Exhibit 12.1-Ratio of Earnings to Fixed Assets

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Exhibit 12.1                         RATIO OF EARNINGS TO FIXED CHARGES                                   

                                                                  For the Years Ended December 31,        
                                                                  -------------------------------         
                                                              1994               1995               1996  
                                                              ----               ----               ----  
                                                                            (in thousands)                
                                                                                                          
Pretax income (loss) from continuing operations             $(1,674)           $(17,233)         $(87,986)

Less:  losses from less than 50% owned persons                  551               4,327             2,681 
                                                            -------            --------          -------- 

                                                             (1,123)            (12,906)          (85,305)

Fixed charges                                                                                             
         Interest, whether expensed or capitalized               --                  30            20,298 
         Amortization of debt expense                            --                  --                -- 
         Rental expense demonstrated to be interest              --                  --                -- 
         Preferred stock dividend requirements                   --                  --                -- 
                                                            -------            --------          -------- 
Total fixed charges                                               0                  30            20,298 

Adjusted earnings                                            (1,123)            (12,876)          (65,007)
                                                            ========           =========         =========

Ratio of adjusted earnings to fixed charges                       --            (429.20)            (3.20)
                                                            ========           =========         =========

Note:  earnings are inadequate to cover fixed charges                                                     
         Amount of coverage deficiency                      $(1,123)           $(12,906)         $(85,305)
                                                            =========          ==========        =========