EX-12.1 5 d485925dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

TELEFLEX INCORPORATED COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in thousands, except ratios)

 

     Year ended December 31,     Nine months ended  
     2012     2013     2014     2015     2016     October 1, 2017  

Earnings:

             

Income (loss) from continuing operations before taxes

      (165,369 )      175,730       220,110       244,646       245,725       217,514  

Amortization of previously capitalized interest

      80       120       161       161       79       59  

Capitalized interest

      (400 )      (393 )      —         —         —         —    

Non-controlling interest income

      (955 )      (867 )      (1,072 )      (850 )      (464 )      —    
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total earnings

      (166,644 )      174,590       219,199       243,957       245,340       217,573  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed Charges:

             

Interest expense

      55,149       41,946       49,561       44,382       44,501       54,944  

Amortization of debt expense

      14,416       14,959       15,897       16,941       10,440       3,940  

Capitalized interest

      400       393       —         —         —         —    

Interest factor in rents (1)

      8,071       8,811       9,809       11,535       11,329       8,861  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

      78,036       66,109       75,267       72,858       66,270       67,745  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings and fixed charges

      (88,608 )      240,699       294,466       316,815       311,610       285,318  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges

      —   (2)      3.6       3.9       4.3       4.7       4.2  

 

(1) One-third of all rental expense is deemed to be interest, which we believe to be a reasonable approximation of the interest factor of our leases.
(2) Due to our loss from continuing operations before taxes for the year ended December 31, 2012, the ratio coverage was less than 1:1. We would have needed to generate $166.7 million to achieve a coverage of 1:1.