Exhibit 12.1
Regeneron Pharmaceuticals, Inc.
Computation of Ratio of Earnings to Combined Fixed Charges
(Dollars in thousands)
Computation of Ratio of Earnings to Combined Fixed Charges
(Dollars in thousands)
Nine months | ||||||||||||||||||||||||
ended | ||||||||||||||||||||||||
Years ended December 31, | September 30, | |||||||||||||||||||||||
2001 | 2002 | 2003 | 2004 | 2005 | 2006 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income (loss) from continuing operations before income (loss) from equity investee | $ | (75,178 | ) | $ | (124,350 | ) | $ | (107,395 | ) | $ | 41,565 | $ | (95,456 | ) | $ | (72,179 | ) | |||||||
Fixed charges | 3,888 | 13,685 | 14,108 | 14,060 | 13,687 | 10,232 | ||||||||||||||||||
Amortization of capitalized interest | — | — | 33 | 78 | 78 | 58 | ||||||||||||||||||
Interest capitalized | — | (222 | ) | (276 | ) | — | — | — | ||||||||||||||||
Adjusted earnings | $ | (71,290 | ) | $ | (110,887 | ) | $ | (93,530 | ) | $ | 55,703 | $ | (81,691 | ) | $ | (61,889 | ) | |||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense | $ | 2,657 | $ | 11,859 | $ | 11,932 | $ | 12,175 | $ | 12,046 | $ | 9,033 | ||||||||||||
Interest capitalized | — | 222 | 276 | — | — | — | ||||||||||||||||||
Assumed interest component of rental charges | 1,231 | 1,604 | 1,900 | 1,885 | 1,641 | 1,199 | ||||||||||||||||||
Total fixed charges | $ | 3,888 | $ | 13,685 | $ | 14,108 | $ | 14,060 | $ | 13,687 | $ | 10,232 | ||||||||||||
Ratio of earnings to fixed charges | (A | ) | (A | ) | (A | ) | 3.96 | (A | ) | (A | ) |
(A) | Due to the registrant’s losses for the years ended December 31, 2001, 2002, 2003, and 2005, and for the nine months ended September 30, 2006, the ratio coverage was less than 1:1. To achieve a coverage ration of 1:1, the registrant must generate additional earnings of the amounts shown in the table below. |
Nine months | ||||||||||||||||||||
ended | ||||||||||||||||||||
Years ended December 31, | September 30, | |||||||||||||||||||
2001 | 2002 | 2003 | 2005 | 2006 | ||||||||||||||||
Coverage deficiency | $ | 75,178 | $ | 124,572 | $ | 107,638 | $ | 95,378 | $ | 72,121 |