Exhibit 12.1
CORIUM INTERNATIONAL, INC.
Ratio of Earnings to Fixed Charges
The following table shows our ratio of earnings to fixed charges for the periods indicated:
|
| Year Ended September 30, |
| Six Months | ||||||||||||||
|
| 2013 |
| 2014 |
| 2015 |
| 2016 |
| 2017 |
| 2018 | ||||||
Earnings (loss): |
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Pre-tax income (loss) from continuing operations before adjustment for income (loss) from equity investees |
| $ | (13,876) |
| $ | (9,911) |
| $ | (28,447) |
| $ | (36,700) |
| $ | (47,786) |
| $ | (31,296) |
Plus: Fixed charges |
| $ | 7,705 |
| $ | 6,961 |
| $ | 7,446 |
| $ | 7,947 |
| $ | 8,303 |
| $ | 4,533 |
Plus: Amortization of capitalized interest |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
Plus: Distributed income of equity investees |
|
| — |
|
| — |
|
| — |
|
| — |
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| — |
|
| — |
Plus: Share of pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
Less: Interest capitalized |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
Less: Non-controlling interest in pre-tax income of subsidiaries that have not incurred fixed charges |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
Earnings (loss), adjusted |
| $ | (6,171) |
| $ | (2,950) |
| $ | (21,001) |
| $ | (28,753) |
| $ | (39,483) |
| $ | (26,763) |
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Fixed Charges: |
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|
|
|
Interest expensed and capitalized |
| $ | 7,180 |
| $ | 6,794 |
| $ | 7,256 |
| $ | 7,718 |
| $ | 7,913 |
| $ | 3,844 |
Amortized premiums, discounts and capitalized expenses related to indebtedness |
| $ | 525 |
| $ | 167 |
| $ | 190 |
| $ | 229 |
| $ | 390 |
| $ | 689 |
Interest within rental expense |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
Total fixed charges |
| $ | 7,705 |
| $ | 6,961 |
| $ | 7,446 |
| $ | 7,947 |
| $ | 8,303 |
| $ | 4,533 |
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Ratio of earnings to fixed charges |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
|
| — |
Dollar amount of deficiency |
| $ | (13,876) |
| $ | (9,911) |
| $ | (28,447) |
| $ | (36,700) |
| $ | (47,786) |
| $ | (31,296) |
