Exhibit 12.1
Integra LifeSciences Holdings Corporation
Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
Nine Months Ended September 30, 2016 | Years Ended December 31, | |||||||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||||||
Earnings from continuing operation before taxes | 54,250 | 60,671 | 45,566 | 18,786 | 64,231 | 33,541 | ||||||||||||||||||
Fixed charges excluding capitalized interest | 21,745 | 26,615 | 24,825 | 22,614 | 25,012 | 30,191 | ||||||||||||||||||
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Earnings before income taxes and fixed charges | 75,995 | 87,286 | 70,391 | 41,400 | 89,243 | 63,732 | ||||||||||||||||||
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Fixed Charges | ||||||||||||||||||||||||
Interest Expense | 19,255 | 23,517 | 21,967 | 19,725 | 22,237 | 27,628 | ||||||||||||||||||
Capitalized Interest | 695 | 1,711 | 2,600 | 3,163 | 3,833 | 1,400 | ||||||||||||||||||
Rental Factor | 2,490 | 3,098 | 2,858 | 2,889 | 2,775 | 2,563 | ||||||||||||||||||
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Total Fixed Charges | 22,440 | 28,326 | 27,425 | 25,777 | 28,845 | 31,591 | ||||||||||||||||||
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Ratio of Earnings to Fixed Charges(1) | 3.4x | 3.1x | 2.6x | 1.6x | 3.1x | 2.0x |
(1) | The ratios of earnings to fixed charges have been computed on a consolidated basis by dividing earnings from continuing operations before income taxes and fixed charges by fixed charges. Fixed charges consist of interest on debt and a factor for interest included in rent expense. Income from continuing operations before income taxes has the meaning as set forth in our Consolidated Statement of Operation included in our report onForm 10-K for the year ended December 31, 2015 andForm 10-Q for the nine months ended September 30, 2016. |