Exhibit 12.1
TELEFLEX INCORPORATED COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
| Year Ended December 31, | Three Months Ended | |||||||||||||||||||||||
| 2015 | 2014 | 2013 | 2012 | 2011 | March 27, 2016 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income (loss) from continuing operations before taxes | $ | 244,646 | $ | 220,110 | $ | 175,730 | $ | (165,369 | ) | $ | 145,100 | $ | 53,793 | |||||||||||
Amortization of previously capitalized interest | 161 | 161 | 120 | 80 | 80 | 40 | ||||||||||||||||||
Capitalized interest | — | — | (393 | ) | (400 | ) | — | — | ||||||||||||||||
Non-controlling interest income | (850 | ) | (1,072 | ) | (867 | ) | (955 | ) | (1,021 | ) | (179 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
| $ | 243,957 | $ | 219,199 | $ | 174,590 | $ | (166,644 | ) | $ | 144,159 | $ | 53,654 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense | $ | 44,382 | $ | 49,561 | $ | 41,946 | $ | 55,149 | $ | 57,010 | $ | 9,407 | ||||||||||||
Amortization of debt expense | 16,941 | 15,897 | 14,959 | 14,416 | 13,526 | 4,377 | ||||||||||||||||||
Capitalized interest | — | — | 393 | 400 | — | — | ||||||||||||||||||
Interest factor in rents | 11,535 | 9,809 | 8,811 | 8,071 | 9,977 | 2,751 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total fixed charges | 72,858 | 75,267 | 66,109 | 78,036 | 80,513 | 16,535 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Earnings and fixed charges | $ | 316,815 | $ | 294,466 | $ | 240,699 | $ | (88,608 | ) | $ | 224,672 | $ | 70,189 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Ratio of earnings to fixed charges | 4.3 | 3.9 | 3.6 | — | (1) | 2.8 | 4.2 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
| (1) | Due to our loss from continuing operations before taxes for the year ended December 31, 2012, the ratio coverage was less than 1:1. We would have needed to generate additional earnings of $166.7 million to achieve a coverage of 1:1. |
