PDL BIOPHARMA, INC. - FORM 10-K - EX-12.1 - RATIO OF EARNINGS TO FIXED CHARGES - February 23, 2015

Attached files

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EX-31.2 - CERTIFICATION - PDL BIOPHARMA, INC.pdli1231201410-kex312.htm
EXCEL - IDEA: XBRL DOCUMENT - PDL BIOPHARMA, INC.Financial_Report.xls
10-K - 10-K - PDL BIOPHARMA, INC.pdli1231201410-kdoc.htm
EX-23.2 - CONSENT OF ERNST & YOUNG LLP, INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - PDL BIOPHARMA, INC.pdli1231201410-kex232.htm
EX-23.1 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - PDL BIOPHARMA, INC.pdli1231201410-kex231.htm
EX-32.1 - CERTIFICATION - PDL BIOPHARMA, INC.pdli1231201410-kex321.htm
EX-31.1 - CERTIFICATION - PDL BIOPHARMA, INC.pdli1231201410-kex311.htm
EX-21.1 - SUBSIDIARIES OF THE REGISTRANT - PDL BIOPHARMA, INC.pdli1231201410-kex211.htm
EX-10.66 - EXCHANGE AGREEMENT BETWEEN TANG CAPITAL PARTNERS, LP AND THE COMPANY - PDL BIOPHARMA, INC.pdli1231201410-kex1066.htm
EX-10.64 - SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT - PDL BIOPHARMA, INC.pdli1231201410-kex1064.htm
EX-10.67 - SUMMARY OF OMITTED AMENDMENTS TO CREDIT AGREEMENT - PDL BIOPHARMA, INC.pdli1231201410-kex1067.htm
EX-10.65 - THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT - PDL BIOPHARMA, INC.pdli1231201410-kex1065.htm


Exhibit 12.1

PDL BIOPHARMA, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
(Amount in thousands, except for ratios)


 
 
 
 
 
 
 
 
 
 
 
 
For the Years Ended December 31,
 
 
2010
 
2011
 
2012
 
2013
 
2014
Earnings:
 
 
 
 
 
 
 
 
 
 
Income before income taxes
 
$
150,370

 
$
307,428

 
$
327,133

 
$
401,876

 
$
501,272

Add: fixed charges
 
43,578

 
36,153

 
29,097

 
24,931

 
39,274

Earnings
 
$
193,948

 
$
343,581

 
$
356,230

 
$
426,807

 
$
540,546

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest expense1
 
$
43,529

 
$
36,102

 
$
29,036

 
$
24,871

 
$
39,211

Estimated interest portion of rent expense2
 
49

 
51

 
61

 
60

 
63

Fixed charges
 
$
43,578

 
$
36,153

 
$
29,097

 
$
24,931

 
$
39,274

Ratio of earnings to fixed charges
 
4.45

 
9.50

 
12.24

 
17.12

 
13.76

_____________________________________
1 Interest expense includes amortization of debt discount and expenses.
2 Represents the estimated portion of operating lease rental expense that is considered by us to be representative of interest and amortization of discount related to indebtedness.



PDL BIOPHARMA, INC. Reports