Nope. Each NADH that enters the electron transport chain produces 2.5 ATP while each FADH2 produces 1.5 ATP. 32 that you mentioned is the total number of ATP produced for entire process of respiration, i.e. from glycolysis to link reaction to Krebs cycle to electron transport chain and oxidative phosphorylation. Recall that glycolysis produces 2 ATP and 2 NADH Link reaction produces 2 NADH Krebs cycle produces 2 ATP, 6 NADH and 2FADH2 So all together there are 4 ATP + 10 NADH + 2 FADH2 here, right? In ETC and oxidative phosphorylation, each NADH produces 2.5 ATP and each FADH2 produces 1.5 ATP.