EX-12.1 2 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 Nine 
  
    For the Years Ended December 31,    
Months Ended
  
   
2007
    
2008
    
2009
    
2010
    
2011
    
September 30,
2012
  
Earnings:
                                    
Income before income taxes
   $ 191,073     $ 243,334     $ 280,285     $ 150,370     $ 307,428     $ 250,040  
Add: fixed charges
     16,267       14,285       19,430       43,578       36,153       23,131  
Earnings
   $ 207,340     $ 257,619     $ 299,715     $ 193,948     $ 343,581     $ 273,171  
Fixed Charges:
                                                
Interest expense
   $ 16,200     $ 14,219     $ 19,357     $ 43,529     $ 36,102     $ 23,087  
Estimated interest portion of rent expense
     67       66       73       49       51       44  
Fixed charges
   $ 16,267     $ 14,285     $ 19,430     $ 43,578     $ 36,153     $ 23,131  
Ratio of earnings to fixed charges
     12.75       18.03       15.43       4.45       9.50       11.81