Exhibit 12.1
WARNER CHILCOTT LIMITED
RATIO OF EARNINGS TO FIXED CHARGES
(In millions, except ratio data)
Six months ended June 30, | Year ended December 31, | |||||||||||||||||||||||||||
2014 | 2013 | 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest expensed and capitalized (includes amortization of deferred financing costs) | 151.9 | 109.2 | 239.8 | 111.6 | 69.0 | 68.7 | 33.2 | |||||||||||||||||||||
Capitalized Interest | — | — | — | — | — | — | — | |||||||||||||||||||||
Interest portion of rent expense (1) | 3.7 | 8.4 | 16.0 | 10.6 | 7.2 | 5.0 | 5.4 | |||||||||||||||||||||
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Total fixed charges | 155.6 | 117.6 | 255.8 | 122.2 | 76.2 | 73.7 | 38.6 | |||||||||||||||||||||
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Earnings: | ||||||||||||||||||||||||||||
Pretax income (loss) from continuing operations less equity income | 240.4 | (588.5 | ) | (613.4 | ) | 245.1 | 456.0 | 250.6 | 362.6 | |||||||||||||||||||
Fixed charges | 155.6 | 117.6 | 255.8 | 122.2 | 76.2 | 73.7 | 38.6 | |||||||||||||||||||||
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Total earnings available for fixed charges | 396.0 | (470.9 | ) | (357.6 | ) | 367.3 | 532.2 | 324.3 | 401.2 | |||||||||||||||||||
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Ratio of earnings to fixed charges | 2.5 | n.a. | n.a. | 3.0 | 7.0 | 4.4 | 10.4 | |||||||||||||||||||||
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Deficiency of earnings to fixed charges | n.a. | (4.0 | ) | (1.4 | ) | n.a. | n.a. | n.a. | n.a. | |||||||||||||||||||
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(1) | Rents included in the computation consist of one-third of rental expense, which we believe to be a conservative estimate of an interest factor in our leases, which are not material. |