EX-12.1 5 ex12-1.htm EXHIBIT 12.1 ex12-1.htm
Exhibit 12.1


PDL BIOPHARMA, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
(Amounts in thousands, except for ratios)
 
 
 
   
For the Years Ended December 31,
  
   
2006
    
2007
    
2008
    
2009
    
2010
    
2011
  
Earnings:
                                    
Income (loss) before income taxes
   $ 159,192     $ 191,073     $ 243,334     $ 280,285     $ 150,370     $ 307,428  
Add: fixed charges
     14,233       16,267       14,285       19,430       43,578       36,153  
Earnings
   $ 173,425     $ 207,340     $ 257,619     $ 299,715     $ 193,948     $ 343,581  
Fixed Charges:
                                                
Interest expense
   $ 14,200     $ 16,200     $ 14,219     $ 19,357     $ 43,529     $ 36,102  
Estimated interest portion of rent expense
     33       67       66       73       49       51  
Fixed charges
   $ 14,233     $ 16,267     $ 14,285     $ 19,430     $ 43,578     $ 36,153  
Ratio of earnings to fixed charges
     12.18       12.75       18.03       15.43       4.45       9.50