Carriage Services (CSV) S-3 Shelf registration

EXHIBIT 12.1

CARRIAGE SERVICES, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(unaudited and in thousands)

												9 months
												ending
	2005			2006		2007		2008		2009		9/30/2010
Fixed charges:
Interest expense	$	24,770		$	17,794	$	17,630	$	17,606	$	17,731	$	13,154
Amortization of capitalized expenses related to debt		754			714		714		725		767		545
Rental expense factor		1,268			1,245		1,235		1,278		1,284		1,151
Total fixed charges before capitalized interest		26,792			19,753		19,579		19,609		19,782		14,850
Capitalized interest		46			50		59		56		—		—
Total fixed charges	$	26,838		$	19,803	$	19,638	$	19,665	$	19,782	$	14,850
Earnings available for fixed charges:
Earnings (loss) before income taxes and cumulative effect of change in accounting principle	$	(1,939	)	$	5,842	$	12,317	$	3,529	$	11,845	$	9,970
Add fixed charges before capitalized interest		26,792			19,753		19,579		19,609		19,782		14,850
Total earnings available for fixed charges	$	24,853		$	25,595	$	31,896	$	23,138	$	31,627	$	24,820
Ratio of earnings to fixed charges(1)					1.29		1.62		1.18		1.60		1.67

⁽¹⁾ For purposes of computing the ratios of earnings to fixed charges and earnings to fixed charges plus dividends: (i) earnings consist of income from continuing operations before provision for income taxes plus fixed charges (excluding capitalized interest) and (ii) “fixed charges” consist of interest expensed and capitalized, amortization of debt discount and expense relating to indebtedness and the portion of rental expense representative of the interest factor attributable to leases for rental property. There were no dividends paid or accrued on the Company’s Common Stock during the periods presented above. In 2005, fixed charges exceeded earnings by $1,965,000.