Exhibit 12.1
Medivation, Inc.
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
(in thousands, except ratios)
Nine Months Ended September 30, 2014 | Years Ended December 31, | |||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||
Earnings | ||||||||||||||||||||||||
Income (loss) before income taxes | $ | 122,218 | $ | (42,498 | ) | $ | (41,250 | ) | $ | (43,172 | ) | $ | (32,465 | ) | $ | (46,481 | ) | |||||||
Add: Fixed charges | 18,912 | 21,982 | 16,985 | 933 | 733 | 933 | ||||||||||||||||||
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Earnings, as defined | $ | 141,130 | $ | (20,516 | ) | $ | (24,265 | ) | $ | (42,239 | ) | $ | (31,732 | ) | $ | (45,548 | ) | |||||||
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Fixed Charges | ||||||||||||||||||||||||
Interest expense | $ | 5,094 | $ | 6,793 | $ | 5,322 | $ | — | $ | — | $ | — | ||||||||||||
Capitalized interest | 945 | — | — | — | — | — | ||||||||||||||||||
Amortization of debt discount and issuance costs | 11,007 | 13,456 | 9,663 | — | — | — | ||||||||||||||||||
Interest component of rentals (1) | 1,867 | 1,733 | 2,000 | 933 | 733 | 933 | ||||||||||||||||||
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Total | $ | 18,913 | $ | 21,982 | $ | 16,985 | $ | 933 | $ | 733 | $ | 933 | ||||||||||||
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Earnings (deficiency in earnings) to cover fixed charges | $ | 122,217 | $ | (42,498 | ) | $ | (41,250 | ) | $ | (43,172 | ) | $ | (32,465 | ) | $ | (46,481 | ) | |||||||
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Ratio of earnings to fixed charges | 7.46 | * | * | * | * | * |
(1) | Represents the estimated portion of operating lease rental expense that is considered by us to be a reasonable representation of interest. |
* | Because of the deficiency in earnings to cover fixed charges, the ratio information is not applicable. |