Exhibit 12.1
IDEC PHARMACEUTICALS CORPORATION AND SUBSIDIARY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (1)
(in thousands, except ratios)
| |
Years Ended December 31, |
||||||
|---|---|---|---|---|---|---|---|
| |
2002 |
2001 |
2000 |
||||
| Income before income tax provision | 231,522 | 161,604 | 69,347 | ||||
| Fixed charges: | |||||||
| Interest expense and amortization of original issue discount on all indebtedness | 16,073 | 7,304 | 7,053 | ||||
| Interest included in rent expense | 1,541 | 1,120 | 889 | ||||
| Total fixed charges | 17,614 | 8,424 | 7,942 | ||||
| Income before income tax provision and fixed charges | 249,136 | 170,028 | 77,289 | ||||
| Ratio of earnings to fixed charges | 14.14 | 20.18 | 9.73 | ||||
- (1)
- The ratio of earnings to fixed charges was computed by dividing earnings (income before income tax provision, adjusted for fixed charges) by fixed charges for the periods indicated. Fixed charges include (i) interest expense and amortization of original issue discount on all indebtedness and (ii) a reasonable approximation of the interest factor deemed to be included in rental expense.