Exhibit 12.1
EXELIXIS, INC.
STATEMENT RE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
Our earnings were insufficient to cover fixed charges for the nine months ended September 30, 2015, and the years ended December 31, 2014, 2013 and 2012. The following table sets forth our ratio of earnings to fixed charges for the year ended December 31, 2011 and our deficiency of earnings to cover fixed charges for the nine months ended September 30, 2015 and the years ended December 31, 2014, 2013 and 2012.
Nine Months Ended September 30, | Year Ended December 31, | ||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
Fixed charges: | |||||||||||||||||||
Interest expense | $ | 36,421 | $ | 48,607 | $ | 45,347 | $ | 27,088 | $ | 16,259 | |||||||||
Interest portion of rental expense | 474 | 886 | 935 | 2,948 | 606 | ||||||||||||||
Total fixed charges | $ | 36,895 | $ | 49,493 | $ | 46,282 | $ | 30,036 | $ | 16,865 | |||||||||
Earnings: | |||||||||||||||||||
Net income (loss) before income taxes | $ | (126,096 | ) | $ | (268,724 | ) | $ | (244,856 | ) | $ | (147,538 | ) | $ | 76,992 | |||||
Fixed charges per above | 36,895 | 49,493 | 46,282 | 30,036 | 16,865 | ||||||||||||||
Earnings | $ | (89,201 | ) | $ | (219,049 | ) | $ | (198,574 | ) | $ | (117,502 | ) | $ | 93,857 | |||||
Ratio of earnings to fixed charges | 5.57 | ||||||||||||||||||
Deficiency of earnings available to cover fixed charges | $ | (126,096 | ) | $ | (268,542 | ) | $ | (244,856 | ) | $ | (147,538 | ) |