EX-12.1 7 exhibit121fixedchargesratio.htm RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12.1 Ratio of earnings to fixed charges

Exhibit 12.1
Volcano Corporation
Computation of Earnings to Fixed Charges Ratio
(Unaudited—in thousands)
 
 
Years Ended December 31,
 
 
2013
 
2012
 
2011
 
2010
 
2009
Earnings (losses)
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
 
$
(50,824
)
 
$
9,689

 
$
18,103

 
$
7,327

 
$
(27,767
)
Fixed charges
 
29,979

 
11,663

 
10,269

 
4,330

 
1,895

Less: capitalized interest
 
939

 
1,638

 
1,190

 
—

 
—

Total
 
(21,784
)
 
19,714

 
27,182

 
11,657

 
(25,872
)
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
Interest expense on indebtedness and
amortization of deferred financing costs
 
$
27,632

 
$
9,368

 
$
7,980

 
$
2,192

 
$
5

Interest component of rentals (1)
 
2,347

 
2,295

 
2,289

 
2,138

 
1,890

Total
 
29,979

 
11,663

 
10,269

 
4,330

 
1,895

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
(0.73
)
 
1.69

 
2.65

 
2.69

 
(13.65
)
Excess (deficiency) of earnings available
to cover fixed charges
 
$
(51,763
)
 
$
8,051

 
$
16,913

 
$
7,327

 
$
(27,767
)
 
 
 
 
 
 
 
 
 
 
 
(1) Represents the estimated portion of operating lease rental expense that is considered by us to be representative of interest and amortization of discount related to indebtedness.