Attached files
| file | filename |
|---|---|
| EX-32.1 - CERTIFICATION - PDL BIOPHARMA, INC. | pdli-2018093010qex321.htm |
| EX-31.2 - CERTIFICATION - PDL BIOPHARMA, INC. | pdli-2018093010qex312.htm |
| EX-31.1 - CERTIFICATION - PDL BIOPHARMA, INC. | pdli-2018093010qex311.htm |
| EX-10.2 - INDEMNIFICATION AGREEMENT - PDL BIOPHARMA, INC. | pdli-2018093010qex102.htm |
| 10-Q - 10-Q - PDL BIOPHARMA, INC. | pdli-2018093010qdoc.htm |
Exhibit 12.1
PDL BIOPHARMA, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
(Amount in thousands, except for ratios)
For the Nine Months Ended September 30, 2018 | ||||||||||||||||||||||||
2013 | 2014 | 2015 | 2016 | 2017 | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income (loss) before income taxes | $ | 401,876 | $ | 501,272 | $ | 530,138 | $ | 109,370 | $ | 184,527 | $ | (88,484 | ) | |||||||||||
Add: fixed charges | 24,931 | 39,274 | 27,123 | 18,330 | 20,507 | 9,569 | ||||||||||||||||||
Earnings | $ | 426,807 | $ | 540,546 | $ | 557,261 | $ | 127,700 | $ | 205,034 | $ | (78,915 | ) | |||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense1 | $ | 24,871 | $ | 39,211 | $ | 27,059 | $ | 18,267 | $ | 20,221 | $ | 9,262 | ||||||||||||
Estimated interest portion of rent expense2 | 60 | 63 | 64 | 63 | 286 | 307 | ||||||||||||||||||
Fixed charges | $ | 24,931 | $ | 39,274 | $ | 27,123 | $ | 18,330 | $ | 20,507 | $ | 9,569 | ||||||||||||
Ratio of earnings to fixed charges | 17.12 | 13.76 | 20.55 | 6.97 | 10.00 | N/A | ||||||||||||||||||
Deficiency of earnings to cover fixed charges | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (88,484 | ) | |||||||||||
_____________________________________
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.