Pacific Biosciences of California (PACB) 10-K 2013 FY Annual report

Exhibit 12.1  

COMPUTATION OF RATION OF EARNINGS TO FIXED CHARGES

Our earnings are inadequate to cover fixed charges. The following table sets forth the dollar amount of the coverage deficiency for each of the years ended December 31, 2013, 2012, 2011, 2010 and 2009. We have not included a ratio of earnings to combined fixed charges and preferred stock dividends because we do not have earnings. We have derived the deficiency of earnings to cover fixed charges from our historical financial statements. The following should be read in conjunction with our consolidated financial statements, including the notes thereto, and the other financial information included or incorporated by reference herein.

	Year Ended December 31,
	2013		2012		2011		2010		2009
(dollars in thousands)	(in thousands except per share amounts)
Net loss	$	(79,293)	$	(94,465)	$	(109,388)	$	(140,166)	$	(87,703)
Add back: Fixed charges		2,668		471		518		367		146
Total adjusted net loss	$	(76,625)	$	(93,994)	$	(108,870)	$	(139,799)	$	(87,557)
Fixed charges:
Interest expense		2,478		275		287		194		30
Interest portion of rental expense		190		196		231		173		116
Total fixed charges		2,668		471		518		367		146
Deficiency of earnings available to fixed charges (1)	$	(79,293)	$	(94,465)	$	(109,388)	$	(140,166)	$	(87,703)

(1) Because of the deficiency of earnings available to cover fixed charges, the ratio information is not applicable.