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10-K - 10-K - INCYTE CORPincy-20171231x10k.htm
EX-32.2 - EX-32.2 - INCYTE CORPincy-20171231ex3220a4b41.htm
EX-32.1 - EX-32.1 - INCYTE CORPincy-20171231ex321708576.htm
EX-31.2 - EX-31.2 - INCYTE CORPincy-20171231ex3126dab14.htm
EX-31.1 - EX-31.1 - INCYTE CORPincy-20171231ex311c609d4.htm
EX-23.1 - EX-23.1 - INCYTE CORPincy-20171231ex2314821df.htm
EX-21.1 - EX-21.1 - INCYTE CORPincy-20171231ex2112d7652.htm
EX-10.23 - EX-10.23 - INCYTE CORPincy-20171231ex10239cab7.htm

EXHIBIT 12.1

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

2013

 

2014

 

2015

 

2016

 

2017

 

 

(in thousands)

Income (loss) before provision for income taxes

    

$

(82,848)

    

$

(48,547)

    

$

7,556

    

$

107,404

    

$

(312,290)

Fixed charges

 

 

17,131

 

 

11,793

 

 

11,937

 

 

7,684

 

 

1,657

Total earnings and fixed charges

 

$

(65,717)

 

$

(36,754)

 

$

19,493

 

$

115,088

 

$

(310,633)

Fixed charges

 

 

17,131

 

 

11,793

 

 

11,937

 

 

7,684

 

 

1,657

Ratio of earnings to fixed charges(1)(2)

 

 

NM

 

 

NM

 

 

1.6

 

 

15.0

 

 

NM

 


(1)

The ratio of earnings to fixed charges is computed by dividing income (loss) before provision for income taxes plus fixed charges by fixed charges. Fixed charges consist of interest expense (including interest expense from capital leases) and the estimated portion of rental expense deemed by us to be representative of the interest factor of rental payments under operating leases. Earnings were insufficient to cover fixed charges by $82.8 million, $48.5 million and $312.3 million for the years ended December 31, 2013, 2014 and 2017 respectively.

(2)

NM—Not meaningful.