Attached files
| file | filename |
|---|---|
| EX-1.1 - EX-1.1 - Edwards Lifesciences Corp | d554541dex11.htm |
| 8-K - 8-K - Edwards Lifesciences Corp | d554541d8k.htm |
Exhibit 12.1
EDWARDS LIFESCIENCES CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
| Three Months Ended March 31, 2018 |
Year Ended December 31, | |||||||||||||||||||||||
| 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||||||
| (unaudited) | ||||||||||||||||||||||||
| Earnings: |
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| Income before provision for income taxes |
$ | 263.5 | $ | 1,034.9 | $ | 737.9 | $ | 622.4 | $ | 1,144.0 | $ | 511.2 | ||||||||||||
| Add: |
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| Fixed charges |
8.4 | 32.3 | 26.8 | 24.7 | 24.8 | 18.4 | ||||||||||||||||||
| Distributed income of equity investees |
— | 0.3 | 1.4 | 2.2 | 2.1 | — | ||||||||||||||||||
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| Earnings as adjusted |
$ | 271.9 | $ | 1,067.5 | $ | 766.1 | $ | 649.3 | $ | 1,170.9 | $ | 529.6 | ||||||||||||
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| Fixed Charges: |
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| Interest expense |
$ | 5.7 | $ | 21.5 | $ | 17.5 | $ | 15.5 | $ | 15.5 | $ | 8.9 | ||||||||||||
| Amortized debt issuance costs |
0.4 | 1.7 | 1.7 | 1.7 | 1.7 | 0.9 | ||||||||||||||||||
| Interest portion of rental expenses (a) |
2.3 | 9.1 | 7.6 | 7.5 | 7.6 | 8.6 | ||||||||||||||||||
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| Fixed Charges |
$ | 8.4 | $ | 32.3 | $ | 26.8 | $ | 24.7 | $ | 24.8 | $ | 18.4 | ||||||||||||
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| Ratio of Earnings to Fixed Charges: |
32.4 | 33.0 | 28.6 | 26.3 | 47.1 | 28.7 | ||||||||||||||||||
| (a) | One-third of all rental expense is deemed to be interest, which we believe to be a conservative estimate of an interest factor in our leases. |