Exhibit 12.1
Biogen Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(in millions, except ratios)
| For the Six Months Ended June 30, 2015 |
For the Year Ended December 31, |
|||||||||||||||||||||||
| 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||
| Earnings |
||||||||||||||||||||||||
| Income before income tax expense and equity in loss of investee, net of tax |
$ | 2,325.1 | $ | 3,946.6 | $ | 2,480.6 | $ | 1,855.1 | $ | 1,711.2 | $ | 1,229.9 | ||||||||||||
| Fixed charges |
18.1 | 38.6 | 42.1 | 64.0 | 67.6 | 66.6 | ||||||||||||||||||
| Capitalized interest |
(4.2 | ) | (6.4 | ) | (7.8 | ) | (25.4 | ) | (32.6 | ) | (28.6 | ) | ||||||||||||
| Net (income)/loss attributable to noncontrolling interests, net of tax |
4.8 | (6.8 | ) | — | — | (32.3 | ) | 106.7 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Earnings |
$ | 2,343.8 | $ | 3,972.0 | $ | 2,514.9 | $ | 1,893.7 | $ | 1,713.9 | $ | 1,374.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Fixed charges |
||||||||||||||||||||||||
| Interest expense |
$ | 12.0 | $ | 28.5 | $ | 31.0 | $ | 35.7 | $ | 32.2 | $ | 35.4 | ||||||||||||
| Capitalized interest |
4.2 | 6.4 | 7.8 | 25.4 | 32.6 | 28.6 | ||||||||||||||||||
| Interest component of rental expense |
1.4 | 2.7 | 2.4 | 2.1 | 2.0 | 1.9 | ||||||||||||||||||
| Amortization of debt discount and issuance costs |
0.5 | 1.0 | 0.9 | 0.8 | 0.8 | 0.7 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Fixed charges |
$ | 18.1 | $ | 38.6 | $ | 42.1 | $ | 64.0 | $ | 67.6 | $ | 66.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Ratio of earnings to fixed charges (1) |
$ | 129.2 | $ | 103.0 | $ | 59.8 | $ | 29.6 | $ | 25.4 | $ | 20.6 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (1) | Ratios may not recalculate due to rounding. |