EX-12.1 3 exhibit121-computation.htm EXHIBIT 12.1 Exhibit 12.1 - Computation


Exhibit 12.1

Merit Medical Systems, Inc.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Thousands, Except Ratios)
(Unaudited)
 
Years Ended December 31,
 
2013
 
2012
 
2011
 
2010
 
2009
Income before income taxes, cumulative effect of change in accounting principle, losses in equity investments and minority interests
$
19,839

 
$
27,618

 
$
32,875

 
$
16,788

 
$
33,094

Fixed charges deducted from income:
 
 
 
 
 
 
 
 
 
     Interest Expense
8,044

 
604

 
789

 
596

 
28

     Amortization of debt financing fees
845

 
104

 
104

 
67

 
_
     Implicit interest in rents
1,488

 
1,300

 
1,241

 
1,061

 
693

          
10,377

 
2,008

 
2,134

 
1,724

 
721

          Earnings available for fixed charges
$
30,216

 
$
29,626

 
$
35,009

 
$
18,512

 
$
33,815

 
 
 
 
 
 
 
 
 
 
Interest expense
$
8,044

 
$
604

 
$
789

 
$
596

 
$
28

Capitalized interest
1,038

 
456

 
299

 
13

 
_
Amortization of debt financing fees
845

 
104

 
104

 
67

 
_
Implicit interest in rents
1,488

 
1,300

 
1,241

 
1,061

 
693

  Total fixed charges
$
11,415

 
$
2,464

 
$
2,433

 
$
1,737

 
$
721

Ratio of earnings to fixed charges
2.6

 
12.0

 
14.4

 
10.7

 
46.9