EX-12.1 3 a93758a1exv12w1.htm EXHIBIT 12.1 Invitrogen Corporation
 

Exhibit 12.1

Statements Regarding Computations of Ratios of Earnings to Fixed Charges

     The following table sets forth the ratio of earnings to fixed charges for our company and our subsidiaries for each of the periods indicated. We calculated the ratio of earnings to fixed charges by dividing earnings by total fixed charges. Earnings are defined as income (loss) before provision for income taxes and minority interest plus Fixed Charges less minority interest in pre-tax income of subsidiaries that have not incurred Fixed Charges. Fixed charges are defined as the sum of interest expensed plus amortized capitalized expenses related to indebtedness plus an estimate of the interest within rental expense.

                                                 
    Nine Months   Years Ended December 31,
    Ended September  30,  
(in thousands)(unaudited)   2003   2002   2001   2000   1999   1998
   
 
 
 
 
 
Earnings:
                                                
Income (loss) before provision for income taxes and minority
    interest
   $ 69,581     $ 71,176     $ (137,281 )   $ (54,536 )   $ 14,015     $ 7,965  
Fixed charges
     21,644       25,957       12,645       9,408       1,042       846  
Minority interest in pre-tax income of subsidiaries that have not
    incurred fixed charges
     (1,247 )     (1,168 )     (694 )     (93 )     —       —  
 
    
     
     
     
     
     
 
 
   $ 89,978     $ 95,965     $ (125,330 )   $ (45,222 )   $ 15,057     $ 8,811  
 
    
     
     
     
     
     
 
Fixed Charges:
                                                
Interest expensed
   $ 11,993     $ 20,897     $ 10,518     $ 8,383     $ 922     $ 716  
Amortized capitalized expenses related to indebtedness
     8,256       3,200       777       553       —       —  
Estimate of interest within rental expense
     1,395       1,860       1,350       472       120       130  
 
    
     
     
     
     
     
 
 
   $ 21,644     $ 25,957     $ 12,645     $ 9,408     $ 1,042     $ 846  
 
    
     
     
     
     
     
 
Ratio of earnings to fixed charges
     4.2       3.7       — (1)     — (1)     14.5       10.4  

(1)   For the years ended December 31, 2001 and 2000, earnings were insufficient to cover fixed charges by $138.0 million and $54.6 million, respectively.