EX-12.1 3 exel20140930exhibit121.htm STATEMENT RE COMPUTATION OF EARNINGS TO FIXED CHARGES EXEL 2014.09.30 Exhibit 12.1



Exhibit 12.1

EXELIXIS, INC.
STATEMENT RE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
Our earnings were insufficient to cover fixed charges for the nine months ended September 30, 2014 and the years ended December 31, 2013, 2012 and 2010. The following table sets forth our ratio of earnings to fixed charges for the year ended December 31, 2011 and our deficiency of earnings to cover fixed charges for the nine months ended September 30, 2014 and the years ended December 31, 2013, 2012 and 2010.
 
Nine Months Ended September 30,
 
Year Ended December 31,
 
2014
 
2013
 
2012
 
2011
 
2010
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
23,843

 
$
45,347

 
$
27,088

 
$
16,259

 
$
9,340

Interest portion of rental expense
674

 
935

 
2,948

 
606

 
570

Total fixed charges
$
24,517

 
$
46,282

 
$
30,036

 
$
16,865

 
$
9,910

 
 
 
 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
 
 
 
Net income (loss) before income taxes
$
(210,589
)
 
$
(244,856
)
 
$
(147,538
)
 
$
76,992

 
$
(92,402
)
Fixed charges per above
24,517

 
46,282

 
30,036

 
16,865

 
9,910

Earnings
$
(186,072
)
 
$
(198,574
)
 
$
(117,502
)
 
$
93,857

 
$
(82,492
)
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
 
 
 
 
 
5.57

 
 
Deficiency of earnings available to cover fixed charges
$
(210,589
)
 
$
(244,856
)
 
$
(147,538
)
 
 
 
$
(92,402
)