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EX-32.1 - EX-32.1 - UNITED THERAPEUTICS Corpa11-8826_1ex32d1.htm
EX-31.2 - EX-31.2 - UNITED THERAPEUTICS Corpa11-8826_1ex31d2.htm
EX-31.1 - EX-31.1 - UNITED THERAPEUTICS Corpa11-8826_1ex31d1.htm
EX-32.2 - EX-32.2 - UNITED THERAPEUTICS Corpa11-8826_1ex32d2.htm
EXCEL - IDEA: XBRL DOCUMENT - UNITED THERAPEUTICS CorpFinancial_Report.xls
10-Q - 10-Q - UNITED THERAPEUTICS Corpa11-8826_110q.htm

Exhibit 12.1

 

United Therapeutics Corporation

Ratio of Earnings to Fixed Charges

(Unaudited)

 

 

 

Three Months
Ended March

 

Year Ended December 31,

 

 

 

31, 2011

 

2010

 

2009

 

2008

 

2007

 

2006

 

 

 

 

 

$ in thousands

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (lossses) from continuing operations before income taxes

 

$

26,826

 

$

147,839

 

$

18,767

 

$

(83,721

)

$

4,477

 

$

37,973

 

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from equtiy investee

 

37

 

160

 

141

 

226

 

321

 

491

 

Fixed charges

 

5,495

 

20,089

 

18,326

 

17,357

 

16,855

 

3,589

 

Less: capitalized interest

 

(82

)

(103

)

(5,154

)

(4,757

)

(689

)

 

Earnings (losses), as adjusted

 

$

32,276

 

$

167,985

 

$

32,080

 

$

(70,895

)

$

20,964

 

$

42,053

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense(1)

 

$

5,413

 

$

19,714

 

$

12,875

 

$

11,439

 

$

14,281

 

$

2,417

 

Capitalized interest

 

82

 

103

 

5,154

 

4,757

 

689

 

 

Portion of rentals representative of interest factor

 

 

 

272

 

297

 

1,161

 

1,885

 

1,172

 

Fixed charges

 

$

5,495

 

$

20,089

 

$

18,326

 

$

17,357

 

$

16,855

 

$

3,589

 

Ratio of earnings to fixed charges

 

5.87

 

8.36

 

1.75

 

(4.08

)

1.24

 

11.72

 

Excess of fixed charges over earnings

 

$

 

$

 

$

 

$

88,252

 

$

 

$

 

 


(1) Includes amortization of debt discount and issue costs

 

NOTE: The ratio of earnings to fixed charges should be read in conjunction with the Consolidated Financial Statements and related Notes to the Consolidated Financial Statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations contained in our Annual Report on Form 10-K for the year ended December 31, 2010, and this Quarterly Report on Form 10-Q for the three months ended March 31, 2011.