Exhibit 12.1
Elan Corporation, plc
Consolidated Fixed Charges Ratios
November 2013 Debt Registration
(in $mlns)
Consolidated Fixed Charges Ratios
November 2013 Debt Registration
(in $mlns)
Year Ended December 31, | ||||||||||||||||||||
2006 | 2005 | 2004 | 2003 | 2002 | ||||||||||||||||
Net income (loss) from continuing operations | (267.3 | ) | (384.2 | ) | (413.7 | ) | (474.6 | ) | (2,169.6 | ) | ||||||||||
Minority interests | — | — | — | — | (0.7 | ) | ||||||||||||||
Income (loss) from equity investees | — | — | (1.9 | ) | (8.1 | ) | 4.9 | |||||||||||||
Income tax provision (benefit) | (9.0 | ) | 1.0 | (1.7 | ) | (22.8 | ) | 8.0 | ||||||||||||
Pre-tax income before minority interest and income (loss) from equity investees | (276.3 | ) | (383.2 | ) | (413.5 | ) | (489.3 | ) | (2,165.8 | ) | ||||||||||
Plus: | ||||||||||||||||||||
Fixed charges | 169.0 | 165.4 | 129.0 | 122.4 | 135.7 | |||||||||||||||
Amortization of capitalized interest | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | |||||||||||||||
Distributed income of equity investees | — | — | — | — | — | |||||||||||||||
Share of pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges | — | — | — | — | — | |||||||||||||||
Less: | ||||||||||||||||||||
Capitalized interest | — | — | — | — | (3.0 | ) | ||||||||||||||
Preference security dividend requirements of consolidated subsidiaries | — | — | — | — | — | |||||||||||||||
Minority interest in pre-tax income of subsidiaries that have not incurred fixed charges | — | — | — | — | — | |||||||||||||||
Earnings | (107.2 | ) | (217.7 | ) | (284.4 | ) | (366.8 | ) | (2,033.0 | ) | ||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expensed | 159.7 | 155.5 | 121.1 | 81.4 | 84.8 | |||||||||||||||
Interest capitalized | — | — | — | — | 3.0 | |||||||||||||||
Plus: | ||||||||||||||||||||
Amortized premiums, discounts and capitalized expenses related to indebtedness | 6.9 | 7.4 | 5.5 | 38.6 | 44.6 | |||||||||||||||
Estimate of interest within rental expense | 2.4 | 2.5 | 2.4 | 2.4 | 3.3 | |||||||||||||||
Preference security dividend requirements of consolidated subsidiaries | — | — | — | — | — | |||||||||||||||
Fixed Charges | 169.0 | 165.4 | 129.0 | 122.4 | 135.7 | |||||||||||||||
Ratio of Earnings to Fixed Charges | — | — | — | — | — | |||||||||||||||
Additional pre-tax income before minority interest and income from equity investees necessary to generate a ratio of Earnings to Fixed Charges of 1.0 | 276.2 | 383.1 | 413.4 | 489.2 | 2,168.7 | |||||||||||||||