EX-12.1 7 a2153364zex-12_1.htm EXHIBIT 12.1

EXHIBIT 12.1

 

Cephalon, Inc.

Computation of Ratio of Earnings to Fixed Charges

(Amounts in thousands of dollars)

 

 

 

1999

 

2000

 

2001

 

2002

 

2003

 

2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-tax income (loss) from continuing operations

 

(79,432

)

(93,744

)

(55,484

)

62,433

 

130,314

 

(28,184

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense and amortization of debt discount and premium on all indebtedness

 

8,377

 

5,189

 

20,630

 

38,215

 

28,905

 

22,186

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Appropriate portion of rentals

 

907

 

747

 

1,092

 

1,433

 

2,286

 

3,437

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred stock dividend requirements of consolidated subsidiaries

 

3,398

 

9,063

 

5,664

 

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

12,682

 

14,999

 

27,386

 

39,648

 

31,191

 

25,623

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-tax income (loss) from continuing operations, plus fixed charges, less preferred stock dividend requirements of consolidated subsidiaries

 

(70,148

)

(87,808

)

(33,762

)

102,081

 

161,505

 

(2,561

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges (1)

 

—

 

—

 

—

 

2.57

 

5.18

 

—

 

 

(1)

For the years ended December 31, 1998, 1999, 2000 and 2001, no ratios are provided because earnings were insufficient to cover fixed charges and fixed charges and preferred dividends, respectively.