EX-12.1 9 a07-5371_1ex12d1.htm EX-12.1

Exhibit 12.1

Cephalon, Inc

Computation of Ratio of Earnings to Fixed Charges

(Amounts in thousands)

 

 

2002

 

2003

 

2004

 

2005

 

2006

 

Determination of Earnings:

 

 

 

 

 

 

 

 

 

 

 

Pre-tax income (loss) from continuing operations

 

$

62,433

 

$

130,314

 

$

(28,184

)

$

(245,118

)

$

238,254

 

Add:

 

 

 

 

 

 

 

 

 

 

 

Amortization of interest capitalized in current or prior periods

 

—

 

—

 

—

 

—

 

52

 

Fixed charges

 

39,648

 

31,191

 

25,623

 

30,985

 

28,171

 

Total Earnings

 

$

102,081

 

$

161,505

 

$

(2,561

)

$

(214,133

)

$

266,477

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

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

 

38,215

 

28,905

 

22,186

 

25,235

 

18,922

 

Appropriate portion of rentals

 

1,433

 

2,286

 

3,437

 

5,750

 

9,249

 

Preferred stock dividend requirements of consolidated subsidiaries

 

—

 

—

 

—

 

—

 

—

 

Fixed charges

 

39,648

 

31,191

 

25,623

 

30,985

 

28,171

 

 

 

 

 

 

 

 

 

 

 

 

 

Capitalized interest

 

—

 

—

 

—

 

1,044

 

1,766

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Fixed Charges

 

$

39,648

 

$

31,191

 

$

25,623

 

$

32,029

 

$

29,937

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges (1)

 

2.57

 

5.18

 

—

 

—

 

8.90

 

 

 

 

 

 

 

 

 

 

 

 

 

Deficiency of earnings to fixed charges

 

—

 

—

 

28,184

 

246,162

 

—

 

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