EX-12.1 3 exel20180331exhibit121.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 three months ended March 31, 2018 and the year ended December 31, 2017. The following table sets forth our ratio of earnings to fixed charges for the three months ended March 31, 2018 and the year ended December 31, 2017, and our deficiency of earnings to cover fixed charges for the other periods presented.

| Three Months Ended March 31, 2018 |  | Year Ended December 31,
|  | 2017 |  | 2016 |  | 2015 |  | 2014
Fixed charges: |  |  |  |  |  |  |  |  |
Interest expense | $ | — |  |  | $ | 8,679 |  |  | $ | 33,060 |  |  | $ | 40,680 |  |  | $ | 41,362 |
Interest portion of rental expense | 140 |  |  | 592 |  |  | 721 |  |  | 755 |  |  | 886 |
Total fixed charges | $ | 140 |  |  | $ | 9,271 |  |  | $ | 33,781 |  |  | $ | 41,435 |  |  | $ | 42,248 |
Earnings available for fixed charges: |  |  |  |  |  |  |  |  |
Net income (loss) before income taxes | $ | 118,371 |  |  | $ | 158,577 |  |  | $ | (70,222 | ) |  | $ | (161,744 | ) |  | $ | (261,297 | )
Fixed charges per above | 140 |  |  | 9,271 |  |  | 33,781 |  |  | 41,435 |  |  | 42,248 |
Total earnings available for fixed charges | $ | 118,511 |  |  | $ | 167,848 |  |  | $ | (36,441 | ) |  | $ | (120,309 | ) |  | $ | (219,049 | )
Ratio of earnings to fixed charges | 846.51 |  |  | 18.10 |  |  | N/A |  | N/A |  | N/A
Deficiency of earnings available to cover fixed charges | N/A |  | N/A |  | $ | (70,222 | ) |  | $ | (161,744 | ) |  | $ | (261,297 | )