Exhibit 12.1
TELEFLEX INCORPORATED COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
| Year ended December 31, | Nine months ended | |||||||||||||||||||||||
| 2012 | 2013 | 2014 | 2015 | 2016 | October 1, 2017 | |||||||||||||||||||
| Earnings: |
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| Income (loss) from continuing operations before taxes |
(165,369 | ) | 175,730 | 220,110 | 244,646 | 245,725 | 217,514 | |||||||||||||||||
| Amortization of previously capitalized interest |
80 | 120 | 161 | 161 | 79 | 59 | ||||||||||||||||||
| Capitalized interest |
(400 | ) | (393 | ) | — | — | — | — | ||||||||||||||||
| Non-controlling interest income |
(955 | ) | (867 | ) | (1,072 | ) | (850 | ) | (464 | ) | — | |||||||||||||
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| Total earnings |
(166,644 | ) | 174,590 | 219,199 | 243,957 | 245,340 | 217,573 | |||||||||||||||||
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| Fixed Charges: |
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| Interest expense |
55,149 | 41,946 | 49,561 | 44,382 | 44,501 | 54,944 | ||||||||||||||||||
| Amortization of debt expense |
14,416 | 14,959 | 15,897 | 16,941 | 10,440 | 3,940 | ||||||||||||||||||
| Capitalized interest |
400 | 393 | — | — | — | — | ||||||||||||||||||
| Interest factor in rents (1) |
8,071 | 8,811 | 9,809 | 11,535 | 11,329 | 8,861 | ||||||||||||||||||
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| Total fixed charges |
78,036 | 66,109 | 75,267 | 72,858 | 66,270 | 67,745 | ||||||||||||||||||
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| Earnings and fixed charges |
(88,608 | ) | 240,699 | 294,466 | 316,815 | 311,610 | 285,318 | |||||||||||||||||
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| Ratio of earnings to fixed charges |
— | (2) | 3.6 | 3.9 | 4.3 | 4.7 | 4.2 | |||||||||||||||||
| (1) | One-third of all rental expense is deemed to be interest, which we believe to be a reasonable approximation of the interest factor of our leases. |
| (2) | Due to our loss from continuing operations before taxes for the year ended December 31, 2012, the ratio coverage was less than 1:1. We would have needed to generate $166.7 million to achieve a coverage of 1:1. |