EX-12.1 3 ex12-1.htm EXHIBIT 12.1 ex12-1.htm
 
Exhibit 12.1
 
PDL BIOPHARMA, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
(dollars in thousands except ratios)
 
    For the Years Ended December 31,    
For the Three Months Ended
  
   
2007
    
2008
    
2009
    
2010
    
2011
    
March 31,
2012
  
Earnings:
                                    
Income before income taxes
   $ 191,073     $ 243,334     $ 280,285     $ 150,370     $ 307,428     $ 61,789  
Add: fixed charges
     16,267       14,285       19,430       43,578       36,153       8,715  
Earnings
   $ 207,340     $ 257,619     $ 299,715     $ 193,948     $ 343,581     $ 70,504  
Fixed Charges:
                                                
Interest expense
   $ 16,200     $ 14,219     $ 19,357     $ 43,529     $ 36,102     $ 8,700  
Estimated interest portion of rent expense
     67       66       73       49       51       15  
Fixed charges
   $ 16,267     $ 14,285     $ 19,430     $ 43,578     $ 36,153     $ 8,715  
Ratio of earnings to fixed charges
     12.75       18.03       15.43       4.45       9.50       8.09