EX-12.1 3 a2183048zex-12_1.htm EXHIBIT 12.1
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Exhibit 12.1


Cephalon, Inc.
Computation of Ratios of Earnings to Fixed Charges
(In thousands)

 
  Year Ended December 31,
 
 
  2003
  2004
  2005
  2006
  2007
 
Determination of earnings:                                
Pre-tax income (loss) from continuing operations   $ 130,314   $ (28,184 ) $ (245,118 ) $ 238,254   $ (68,419 )
  Add:                                
  Amortization of interest capitalized in current or prior periods                 52     98  
  Fixed charges     31,191     25,623     30,985     28,171     28,960  
   
 
 
 
 
 
Total earnings   $ 161,505   $ (2,561 ) $ (214,133 ) $ 266,477   $ (39,361 )
   
 
 
 
 
 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
  Interest expense and amortization of debt discount and premium on all indebtedness     28,905     22,186     25,235     18,922     19,833  
  Appropriate portion of rentals     2,286     3,437     5,750     9,249     9,127  
   
 
 
 
 
 
  Fixed charges     31,191     25,623     30,985     28,171     28,960  
   
 
 
 
 
 
 
Capitalized interest

 

 


 

 


 

 

1,044

 

 

1,766

 

 

768

 

Total fixed charges

 

$

31,191

 

$

25,623

 

$

32,029

 

$

29,937

 

$

29,728

 
   
 
 
 
 
 

Ratio of earnings to fixed charges(1)

 

 

5.18

 

 


 

 


 

 

8.90

 

 


 
   
 
 
 
 
 

Deficiency of earnings to fixed charges

 

 


 

 

28,184

 

 

246,162

 

 


 

 

69,089

 
   
 
 
 
 
 

(1)
For the years ended December 31, 2004, 2005 and 2007, no ratios are provided because earnings were insufficient to cover fixed charges.



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Cephalon, Inc. Computation of Ratios of Earnings to Fixed Charges (In thousands)