EXHIBIT 12.1
Ratio of Earnings to Fixed Charges | ||||||||||||||||||||
(dollars in thousands, except ratio data) | ||||||||||||||||||||
Three months | ||||||||||||||||||||
ended | ||||||||||||||||||||
March 31, | Year ended December 31, | |||||||||||||||||||
2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
Earnings (Loss): | ||||||||||||||||||||
Earnings (loss) before provision for income taxes | $ | (47,877 | ) | $ | 4,385 | $ | (268,891 | ) | $ | (284,371 | ) | $ | (264,087 | ) | ||||||
Fixed Charges | 19,279 | 77,780 | 82,930 | 80,927 | 59,505 | |||||||||||||||
Total Earnings (Loss) | $ | (28,598 | ) | $ | 82,165 | $ | (185,961 | ) | $ | (203,444 | ) | $ | (204,582 | ) | ||||||
Fixed Charges: | ||||||||||||||||||||
Interest expense on indebtedness (including amortization of debt expense and discount) | $ | 14,666 | $ | 58,424 | $ | 62,912 | $ | 60,716 | $ | 39,606 | ||||||||||
Interest expense on portion of rent expense representative of interest | 4,613 | 19,356 | 20,018 | 20,211 | 19,899 | |||||||||||||||
Total Fixed Charges | $ | 19,279 | $ | 77,780 | $ | 82,930 | $ | 80,927 | $ | 59,505 | ||||||||||
Ratio of Earnings to Fixed Charges | — | 1.06 | — | — | — | |||||||||||||||
Coverage deficiency(1)(2)(3) | $ | (47,877 | ) | $ | — | $ | (268,891 | ) | $ | (284,371 | ) | $ | (264,087 | ) | ||||||
(1) | The Company’s Ratio of Earnings to Fixed Charges for 2009 includes a gain on extinguishment debt of $38,873, a gain on sale of an equity investment of $5,259 and reflects revenues received in connection with the delivery of raxibacumab to the Strategic National Stockpile. These amounts should not be considered indicative of the Company’s future performance. | |
(2) | The Company’s Coverage deficiency for 2008 includes a gain on the sale of an equity investment of $32,518 partially offset by a charge for impaired investment of $6,284. | |
(3) | The Company’s Coverage deficiency for 2006 includes charges for facility-related exit charges of $29,510 partially offset by a gain on the sale of an equity investment of $14,759. |