EX-12.1 7 a2074671zex-12_1.txt EXHIBIT 12.1 EXHIBIT 12.1 BOSTON SCIENTIFIC CORPORATION STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES (Unaudited) (In thousands)
Year Ended December 31, -------------------------------------------------------------------- 2001 2000 1999 1998 1997 -------------------------------------------------------------------- Fixed charges: Interest expense $ 59,644 $ 69,502 $ 117,567 $ 67,573 $ 14,285 Capitalized interest 650 4,460 4,976 Debt issuance costs 1,436 1,300 3,521 1,675 65 Interest portion of rental expense 11,563 14,748 15,126 16,361 14,354 -------------------------------------------------------------------- Total fixed charges $ 72,643 $ 85,550 $ 136,864 $ 90,069 $ 33,680 ==================================================================== Earnings: Income (loss) before income taxes and cumulative effect of change in accounting $ 42,916 $ 526,751 $ 562,468 ($275,314) $ 215,131 Fixed charges per above 72,643 85,550 136,864 90,069 33,680 Net distributed/(undistributed) equity in earnings of equity investees (13,200) 12,926 (1,375) Less: capitalized interest 650 4,460 4,976 -------------------------------------------------------------------- Total earnings, as adjusted $ 102,359 $ 625,227 $ 697,307 ($189,705) $ 243,835 ==================================================================== Ratio of earnings to fixed charges 1.41 7.31 5.09 7.24 ==================================================================== Coverage deficiency (1) ($279,774) ============= Supplamental pro forma coverage deficiency (2) ($345,507) =============
(1)Includes noncash special charges of $646 million recorded in connection with the acquisition of Schneider Worldwide and other merger-related initiatives. (2)Reflects the coverage deficiency as if the acquisition of Schneider Worldwide occurred at the beginning of 1998, with pro forma adjustments to give effect to amortization of intangibles, an increase in interest expense on acquisition financing and certain other adjustments.