EX-12.1 3 exhibits121.htm EXHIBIT Exhibits 12.1


Exhibit 12.1

Merit Medical Systems, Inc.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Thousands, Except Ratios)
(Unaudited)
 
Nine months ended September 30,
 
Years Ended December 31,
 
2013
 
2012
 
2012
 
2011
 
2010
 
2009
 
2008
Income before income taxes, cumulative effect of change in accounting principle, losses in equity investments and minority interests
$
11,657

 
$
25,768

 
$
27,618

 
$
32,875

 
$
16,788

 
$
33,094

 
$
31,820

Fixed charges deducted from income:
 
 
 
 
 
 
 
 
 
 
 
 
 
     Interest Expense
5,297

 
352

 
604

 
789

 
596

 
28

 
17

     Amortization of debt financing fees
598

 
78

 
104

 
104

 
67

 
_
 
_
     Implicit interest in rents
1,113

 
971

 
1,300

 
1,241

 
1,061

 
693

 
650

          
7,008

 
1,401


2,008

 
2,134

 
1,724

 
721

 
667

          Earnings available for fixed charges
$
18,665

 
$
27,169

 
$
29,626

 
$
35,009

 
$
18,512

 
$
33,815

 
$
32,487

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
5,297

 
$
352

 
$
604

 
$
789

 
$
596

 
$
28

 
$
17

Capitalized interest
797

 
289

 
456

 
299

 
13

 
_
 
_
Amortization of debt financing fees
598

 
78

 
104

 
104

 
67

 
_
 
_
Implicit interest in rents
1,113

 
971

 
1,300

 
1,241

 
1,061

 
693

 
650

  Total fixed charges
$
7,805

 
$
1,690

 
$
2,464

 
$
2,433

 
$
1,737

 
$
721

 
$
667

Ratio of earnings to fixed charges
2.4

 
16.1

 
12.0

 
14.4

 
10.7

 
46.9

 
48.7