EX-12.1 11 d684564dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Catamaran Corporation

Ratios of Earnings to Fixed Charges

(dollars in thousands)

 

    2013     2012     2011     2010     2009  

Earnings:

         

Income before income taxes

  $ 402,142      $ 190,337      $ 138,294      $ 97,556      $ 68,085   

Less non-controlling interest (1)

    (36,569     (4,363     —          —          —     

Add fixed charges:

         

Interest expense (2)

    39,116        25,847        1,904        1,362        5,399   

Interest portion of consolidated rent expense (3)

    11,766        5,715        2,140        1,896        2,179   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted earnings

  $ 416,455      $ 217,536      $ 142,338      $ 100,814      $ 75,663   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges:

         

Interest expense

  $ 39,116      $ 25,847      $ 1,904      $ 1,362      $ 5,399   

Interest portion of consolidated rent expense

    11,766        5,715        2,140        1,896        2,179   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

  $ 50,882      $ 31,562      $ 4,044      $ 3,258      $ 7,578   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

    8.18x        6.89x        35.20x        30.94x        9.98x   

 

(1) Non-controlling interest is not included in earnings contributed to the Company
(2) Interest expense on income tax contingencies is not included in fixed charges
(3) One third of rental expenses was used to represent the interest factor of rental expenses