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Exhibit 12.1

 

Charles River Laboratories International, Inc.

Ratio of Earnings to Fixed Charges

 

      Fiscal Year Ended
  

6 Months Ended
June 27, 2015

 

6 Months Ended
June 28, 2014

 

2014

 

2013

 

2012

 

2011

 

2010

    (in thousands except ratios)
                      
Earnings                                   
Consolidated pre-tax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees   91,916    85,347    168,294    132,463    130,364    131,793    (333,503)
plus fixed charges   11,370    10,171    17,721    26,779    39,876    49,143    42,880 
plus amortization of capitalized interest   277    271    549    522    524    542    536 
plus distributed income of equity investees   2,073    7,437    7,437    0    0    0    0 
plus pre-tax losses of equity investees where charges from guarantees are included in fixed charges   0    0    0    0    0    0    0 
minus interest capitalized   (418)   (103)   (1,032)   (243)   (467)   (298)   (56)
minus preference security dividend requirements of consolidated subsidiaries   0    0    0    0    0    0    0 
minus non-controlling interest in pre-tax income of subsidiaries that have not incurred fixed charges   0    0    0    0    0    0    0 
                                    
Total Earnings   105,218    103,123    192,969    159,521    170,297    181,180    (290,143)
                                    
Fixed Charges (B)                                   
Interest and capitalized interest expense on all indebtedness   6,979    5,409    11,257    4,925    1,330    22,874    15,558 
plus amortization of deferred financing costs and debt discounts   839    868    1,725    16,287    32,479    20,010    19,777 
plus 1/3 of rental expense from operating leases   3,552    3,894    4,739    5,567    6,067    6,259    7,545 
Total fixed charges   11,370    10,171    17,721    26,779    39,876    49,143    42,880 
                                    
Ratio of earnings to fixed charges    9.25    10.14    10.89    5.96    4.27    3.69    (A) 

 

 

(A) Earnings for the year ended December 25, 2010 were less than zero. As a result, the coverage ratio was less than 1:1. The amount of the deficiency, or additional earnings we would need to generate to achieve a coverage ratio of 1:1, was approximately $333,023,000.

 

(B) The Company includes interest relating to uncertain tax positions in its provision for income taxes; therefore such amounts are not included in fixed charges in the computation.