EX-12.1 5 exel20170630exhibit121.htm EXHIBIT 12.1
Exhibit 12.1
EXELIXIS, INC.
STATEMENT RE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
Our earnings were insufficient to cover fixed charges for the periods presented except for the six months ended June 30, 2017. The following table sets forth our ratio of earnings to fixed charges for the six months ended June 30, 2017 and our deficiency of earnings to cover fixed charges for the other periods presented.

| Six Months Ended June 30, 2017 |  | Year Ended December 31,
|  | 2016 |  | 2015 |  | 2014 |  | 2013
Fixed charges: |  |  |  |  |  |  |  |  |
Interest expense | $ | 8,679 |  |  | $ | 33,060 |  |  | $ | 40,680 |  |  | $ | 41,362 |  |  | $ | 38,779 |
Interest portion of rental expense | 300 |  |  | 721 |  |  | 755 |  |  | 886 |  |  | 935 |
Total fixed charges | $ | 8,979 |  |  | $ | 33,781 |  |  | $ | 41,435 |  |  | $ | 42,248 |  |  | $ | 39,714 |
Earnings available for fixed charges: |  |  |  |  |  |  |  |  |
Net income (loss) before income taxes | $ | 35,071 |  |  | $ | (70,222 | ) |  | $ | (161,689 | ) |  | $ | (261,479 | ) |  | $ | (238,288 | )
Fixed charges per above | 8,979 |  |  | 33,781 |  |  | 41,435 |  |  | 42,248 |  |  | 39,714 |
Total earnings available for fixed charges | $ | 44,050 |  |  | $ | (36,441 | ) |  | $ | (120,254 | ) |  | $ | (219,231 | ) |  | $ | (198,574 | )
Ratio of earnings to fixed charges | 4.91 |  |  | N/A |  | N/A |  | N/A |  | N/A
Deficiency of earnings available to cover fixed charges | N/A |  | $ | (70,222 | ) |  | $ | (161,689 | ) |  | $ | (261,479 | ) |  | $ | (238,288 | )