EX-12.1 3 dex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement of Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

 

BioMarin Pharmaceutical Inc.

 

Statement of Computation of Ratio of Earnings to Fixed Charges

 

The following table presents BioMarin Pharmaceutical Inc.’s ratio of earnings to fixed charges for the last five fiscal years and nine months ended September 30, 2003 (in millions):

 

    

Nine Months

Ended
September 30,

2003


    Year Ended December 31,

 
       2002

    2001

    2000

    1999

    1998

 

Loss before income tax expense

   $ (50.6 )   $ (77.4 )   $ (57.4 )   $ (35.6 )   $ (26.4 )   $ (11.9 )

Fixed charges

     2.3       1.4       1.0       1.1       1.9       0.9  
    


 


 


 


 


 


Adjusted earnings

   $ (48.3 )   $ (76.0 )   $ (56.4 )   $ (34.5 )   $ (24.5 )   $ (11.0 )
    


 


 


 


 


 


Ratio (1)

     —         —         —         —         —         —    

(1)   For the nine months ended September 30, 2003, and for the years ended December 31, 1998, 1999, 2000, 2001 and 2002, no ratios are provided because earnings were insufficient to cover fixed charges.

 

These computations include us and our consolidated subsidiaries. Ratio of earnings to fixed charges is computed by dividing:

 

    earnings from continuing operations before taxes adjusted for fixed charges, minority interest and capitalized interest net of amortization by,

 

    fixed charges, which includes interest expense and capitalized interest incurred, plus the portion of interest expense under operating leases deemed by us to be representative of the interest factor, plus amortization of the debt issuance costs.