EXHIBIT 12
Statement re: Computation of Ratios
MARVEL ENTERPRISES, INC.
RATIO OF EARNINGS TO FIXED CHARGES AND
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS
SIX MONTHS ENDED JUNE 30, 2000
Fixed Charges and Preference Dividends:
Interest Expense - Gross 15,733
Interest on Rent Expense 480
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Total Fixed Charges 16,213
Preference Stock Dividends 7,545
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Total Fixed Charges and Preference Dividends 23,758
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Earnings (Deficit):
Pretax Loss (26,078)
Fixed Charges 16,213
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Total Deficit before Preference Dividends (9,865)
Preference Dividends 7,545
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Total Deficit (17,410)
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Ratio of Earnings to Fixed Charges ---
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Ratio of Earnings to Combined Fixed
Charges and Preference Dividends ---
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For the purposes of the ratio of earnings to fixed charges and the ratio of
earnings to combined fixed charges and "preference dividends, earnings were
calculated by adding pretax loss, interest expense, the portion of rents"
"representative of an interest factor and, in the case of the latter ratio,
preference dividends. Fixed charges consist" of interest expense and the portion
of rents representative of an interest factor. During the six months ended "June
30, 2000, (i) earnings were insufficient to cover fixed charges and the dollar
amount of the coverage" deficiency was $26.1 million and (ii) earnings were
insufficient to cover combined fixed charges and preference dividends and the
dollar amount of the coverage deficiency was $26.1 million.
