EX-12.1 6 ex121ratioofearnings_2013.htm EXHIBIT 12.1 RATIO OF EARNINGS TO FIXED CHARGES
Exhibit 12.1

West Pharmaceutical Services, Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(in millions, except ratio amounts) | 2013 | 2012 | 2011 | 2010 | 2009
EARNINGS: |  |  |  |  |
Income before income taxes | $ | 147.1 |  | $ | 108.6 |  | $ | 92.7 |  | $ | 74.5 |  | $ | 83.1 |
Add: |  |  |  |  |
Fixed charges | 22.0 |  | 22.6 |  | 23.1 |  | 21.1 |  | 21.9 |
Less: |  |  |  |  |
Capitalized interest | (1.6 | ) | (1.9 | ) | (1.1 | ) | (0.9 | ) | (2.4 | )
Adjusted earnings | $ | 167.5 |  | $ | 129.3 |  | $ | 114.7 |  | $ | 94.7 |  | $ | 102.6 |
FIXED CHARGES: |  |  |  |  |
Interest expense | 18.6 |  | 18.6 |  | 19.3 |  | $ | 17.7 |  | $ | 17.6 |
One-third of rent expense | 3.4 |  | 4.0 |  | 3.8 |  | 3.4 |  | 4.3 |
Total fixed charges | $ | 22.0 |  | $ | 22.6 |  | $ | 23.1 |  | $ | 21.1 |  | $ | 21.9 |
Ratio of earnings to fixed charges | 7.61 |  | 5.72 |  | 4.97 |  | 4.49 |  | 4.68 |