Aptalis Pharma Inc - FORM 10-K - EX-12.1 - December 16, 2010

Attached files

file filename
EX-21.1 - EX-21.1 - Aptalis Pharma Incm67124exv21w1.htm
EX-32.2 - EX-32.2 - Aptalis Pharma Incm67124exv32w2.htm
EX-32.1 - EX-32.1 - Aptalis Pharma Incm67124exv32w1.htm
10-K - 10-K - Aptalis Pharma Incm67124e10vk.htm
EX-31.1 - EX-31.1 - Aptalis Pharma Incm67124exv31w1.htm
EX-31.2 - EX-31.2 - Aptalis Pharma Incm67124exv31w2.htm
Exhibit 12.1
Ratio of earnings to fixed charges
($ in thousands)
                                                         
    Successor     Predecessor  
    Fiscal year                     October 1, 2007        
    ended     Fiscal year ended     February 26 through     through February     Fiscal years ended September 30  
    September 30, 2010     September 30, 2009     September 30, 2008     25, 2008     2007     2006     2005  
Earnings:
                                                        
Income (loss) before income taxes
     (159,416 )     (31,976 )     (307,004 )     29,167       107,032       57,385       34,838  
Add: Fixed charges (per below)
     64,694       67,654       41,386       330       5,046       7,130       6,986  
Total earnings / loss
     (94,722 )     35,678       (265,618 )     29,497       112,078       64,515       41,824  
Fixed charges:
                                                        
Interest expense
     56,563       59,760       35,486       14       2,870       5,416       5,542  
Amortization of original issuance discount
     2,046       2,061       1,150       —       —       —       —  
Amortization of deferred debt issuance costs
     4,968       4,969       4,201       —       1,475       1,117       1,100  
Interest included in rental expense
     1,117       864       549       316       701       597       344  
Total fixed charges
     64,694       67,654       41,386       330       5,046       7,130       6,986  
Ratio of earnings to fixed charges (1)
     (1.46 )     0.53       (6.42 )     89.49       22.21       9.05       5.99  
 
(1)   The ratio of earnings to fixed charges is completed by dividing earnings by fixed charges. “Earnings” consist of earnings before income taxes plus fixed charges. Fixed charges include (i) interest expense on borrowings and amortization of capitalized financing costs and debt discount and (ii) a reasonable approximation of the interest factor, which we deemed to be 30%, is included in rental expense. Earnings, as adjusted were not sufficient to cover fixed charges by approximately $159.4 million for the twelve-month period ended September 30, 2010 ($32.0 million for the twelve-month period ended September 30, 2009 and $307.0 million for the seven month period ended September 30, 2008).

 

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