ZELTIQ Aesthetics (ZLTQ) 10-Q 2014 Q3 Quarterly report

Exhibit 12.1

ZELTIQ Aesthetics, Inc.

Ratio of Earnings to Fixed Charges

The following table sets forth the calculation of the ratio of earnings to fixed charges for the periods indicated.

(Dollars in thousands)

	Nine Months Ended		Year Ended December 31,
	September 30, 2014		2013			2012			2011			2010			2009
Earnings (loss), calculated as follows:
Income (loss) from continuing operations before income taxes	$	227	$	(19,165	)	$	(30,002	)	$	(9,555	)	$	(13,533	)	$	(17,644	)
Add: Fixed charges	369		450			396			410			720			735
Total adjusted earnings	$	596	$	(18,715	)	$	(29,606	)	$	(9,145	)	$	(12,813	)	$	(16,909	)
Fixed Charges, calculated as follows:
Interest expensed	$	—	$	—		$	2		$	72		$	449		$	467
Amortized premiums, discounts and capitalized expenses related to indebtedness	—		—			—			49			49			39
Estimate of interest within rental expense (1)	369		450			394			289			222			229
Total fixed charges	$	369	$	450		$	396		$	410		$	720		$	735
Earnings (deficiency of earnings) to cover fixed charges	$	227	$	(19,165	)	$	(30,002	)	$	(9,555	)	$	(13,533	)	$	(17,644	)
Ratio of earnings to fixed charges (2)	0.62		—			—			—			—			—

(1) Interest component of rental expense is estimated to equal 1/3 of all such expense, which management believes is a reasonable approximation of the interest factor.

(2) Due to the registrant's losses in 2009 through 2013, the ratio information is not applicable.