EX-12.1 4 a2232150zex-12_1.htm EX-12.1
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Exhibit 12.1

Lannett Company, Inc.
Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)

 
   Nine Months
Ended
March 31,
2017 		  Year Ended June 30,  
 
   2016   2015   2014   2013   2012  

Earnings:

                                      

Income (loss) before income taxes

   $ (8,276 ) $ 62,179   $ 227,422   $ 90,020   $ 20,685   $ 6,618  

Fixed charges

     69,761     65,937     207     130     251     273  

Less: Capitalized interest

     (1,061 )   —     —     —     —     —  
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Total earnings

   $ 60,424   $ 128,116   $ 227,629   $ 90,150   $ 20,936   $ 6,891  
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Fixed charges:

    
 		    
 		    
 		    
 		    
 		    
 		  

Interest expense, net of capitalized interest

   $ 68,700   $ 65,937   $ 207   $ 130   $ 251   $ 273  

Capitalized interest

     1,061     —     —     —     —     —  
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Total fixed charges

   $ 69,761   $ 65,937   $ 207   $ 130   $ 251   $ 273  
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Ratio of earnings to fixed charges(1)

     0.9     1.9     1,099.7     693.5     83.4     25.2  
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(1)
For purposes of calculating the ratio of earnings to fixed charges: (a) earnings represent the aggregate of pre-tax income (loss) from continuing operations and fixed charges, less capitalized interest; and (b) fixed charges represent interest costs (expensed and capitalized), amortization of debt costs and the portion of rental expense representing the interest factor.



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Lannett Company, Inc. Computation of Ratio of Earnings to Fixed Charges (in thousands, except ratios)