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Lannett Company, Inc.
Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
| Nine Months Ended March 31, 2017 | Year Ended June 30, | |||||||||||||||||
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| 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||
Earnings: | |||||||||||||||||||
Income (loss) before income taxes | $ | (8,276 | ) | $ | 62,179 | $ | 227,422 | $ | 90,020 | $ | 20,685 | $ | 6,618 | ||||||
Fixed charges | 69,761 | 65,937 | 207 | 130 | 251 | 273 | |||||||||||||
Less: Capitalized interest | (1,061 | ) | — | — | — | — | — | ||||||||||||
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Total earnings | $ | 60,424 | $ | 128,116 | $ | 227,629 | $ | 90,150 | $ | 20,936 | $ | 6,891 | |||||||
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Fixed charges: | |||||||||||||||||||
Interest expense, net of capitalized interest | $ | 68,700 | $ | 65,937 | $ | 207 | $ | 130 | $ | 251 | $ | 273 | |||||||
Capitalized interest | 1,061 | — | — | — | — | — | |||||||||||||
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Total fixed charges | $ | 69,761 | $ | 65,937 | $ | 207 | $ | 130 | $ | 251 | $ | 273 | |||||||
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Ratio of earnings to fixed charges(1) | 0.9 | 1.9 | 1,099.7 | 693.5 | 83.4 | 25.2 | |||||||||||||
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- (1)
- For purposes of calculating the ratio of earnings to fixed charges: (a) earnings represent the aggregate of pre-tax income (loss) from continuing operations and fixed charges, less capitalized interest; and (b) fixed charges represent interest costs (expensed and capitalized), amortization of debt costs and the portion of rental expense representing the interest factor.
Lannett Company, Inc. Computation of Ratio of Earnings to Fixed Charges (in thousands, except ratios)