Envestnet (ENV) 10-K 2014 FY Annual report

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Exhibit 12.1

Envestnet, Inc.
Ratio of Earnings to Fixed Charges
and Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
(unaudited)
(dollars in thousands)

	Years Ended December 31,
	2014		2013		2012		2011		2010
Ratio of Earnings to Fixed Charges
Earnings:
Income before income taxes	$	22,507	$	5,712	$	3,068	$	10,580	$	907
Add: Fixed charges		4,594		2,989		1,336		1,763		1,387
Income before income taxes and fixed charges	$	27,101	$	8,701	$	4,404	$	12,343	$	2,294
Fixed Charges:
Interest expensed and capitalized(1)	$	1,772	$	1,288	$	—	$	786	$	564
Amortized premiums, discounts and capitalized expenses related to indebtedness		326		—		—		—		—
An estimate of the interest within rental expense(2)		2,496		1,701		1,336		977		823
Total fixed charges	$	4,594	$	2,989	$	1,336	$	1,763	$	1,387
Ratio of earnings to fixed charges		5.90		2.91		3.30		7.00		1.65
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
Earnings:
Income before income taxes	$	22,507	$	5,712	$	3,068	$	10,580	$	907
Add: Fixed charges		4,594		2,989		1,336		1,763		1,649
Subtract: Preferred stock dividends(3)		—		—		—		—		(262	)
Income before income taxes and fixed charges	$	27,101	$	8,701	$	4,404	$	12,343	$	2,294
Fixed Charges:
Interest expensed and capitalized(1)	$	1,772	$	1,288	$	—	$	786	$	564
Amortized premiums, discounts and capitalized expenses related to indebtedness		326		—		—		—		—
An estimate of the interest within rental expense(2)		2,496		1,701		1,336		977		823
Preferred stock dividends(3)		—		—		—		—		262
Total fixed charges and preferred stock dividends	$	4,594	$	2,989	$	1,336	$	1,763	$	1,649
Ratio of earnings to combined fixed charges and preferred stock dividends		5.90		2.91		3.30		7.00		1.39

(1)

Amounts presented for the years ended December 31, 2014 and 2013 represent coupon interest, interest and fees related to the credit facility and accretion on contingent consideration.

(2)

Interest is estimated by management to equal one-third of minimum rental payments under operating leases.

(3)

Preferred stock dividends are tax affected at a rate of 37.8% for 2010.

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Exhibit 12.1

Envestnet, Inc. Ratio of Earnings to Fixed Charges and Ratio of Earnings to Fixed Charges and Preferred Stock Dividends (unaudited) (dollars in thousands)