EX-12.1 5 h02300exv12w1.htm EX-12.1 STATEMENT REGARDING THE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EX-12.1 STATEMENT REGARDING THE COMPUTATION
Exhibit 12.1
                                         
    Canadian Solar Inc.
    Ratio of Earnings to Fixed Charges
    Year Ended December 31,
    2003   2004   2005   2006   2007
Computation of Earnings:
                                        
Income before taxes
     654       1,820       4,409       (8,998 )     (395 )
Interest capitalized
     —       —       —       —       (47 )
Fixed charges
     3       11       282       2,267       2,588  
Earnings
     448       1,831       4,691       (6,731 )     2,146  
Computation of Fixed Charges:
                                        
Interest expense
     —       —       239       2,194       2,414  
Interest portion of operating lease
     3       11       43       73       174  
Fixed charges
     3       11       282       2,267       2,588  
Ratio of Earnings to Fixed charges
     149 %     166 %     17 %     (3 )%     1 %
Deficiency
     —       —       —       8,998       442