Exhibit 12.1
Internet Capital Group, Inc.
Computation of Earnings to Fixed Charges (amounts in thousands, except ratios)
| Period ended March 31, |
Years Ended December 31, |
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| 2004 |
2003 |
2002 |
2001 |
2000 |
1999 |
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| Net loss before income taxes |
$ | (123,795 | ) | $ | (135,884 | ) | $ | (102,219 | ) | $ | (2,338,730 | ) | $ | (666,548 | ) | $ | (29,777 | ) | ||||||
| Plus fixed charges - |
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| Interest expense including amortization of debt issuance costs |
1,630 | 16,564 | 23,398 | 42,670 | 42,982 | 3,897 | ||||||||||||||||||
| Adjustments (1) |
555 | 12,164 | 65,676 | 940,637 | 896,146 | 86,073 | ||||||||||||||||||
| Adjusted Earnings |
(121,610 | ) | (107,156 | ) | (13,145 | ) | (1,355,423 | ) | 272,580 | 60,193 | ||||||||||||||
| Fixed charges |
1,630 | 16,564 | 23,398 | 42,670 | 42,982 | 3,897 | ||||||||||||||||||
| Deficiency of earnings to cover fixed charges |
$ | (123,240 | ) | $ | (123,720 | ) | $ | (36,543 | ) | $ | (1,398,093 | ) | ||||||||||||
| Ratio of earnings to fixed charges |
6.3 | 15.4 | ||||||||||||||||||||||
| (1) | Adjusts earnings to include the full amount of losses of majority-owned subsidiaries and exclude equity losses for partner companies accounted for under the equity method for which we have not guaranteed or otherwise undertaken, directly or indirectly, to service the debt of such companies. |