Centene Corporation | Exhibit 12.1 | |||||||||||||||||||||||
Computation of ratio of earnings to fixed charges | ||||||||||||||||||||||||
($ in thousands) | ||||||||||||||||||||||||
For the Nine Months Ended | Year Ended December 31, | |||||||||||||||||||||||
9/30/2009 | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Pre-tax earnings from continuing operations | $ | 99,928 | $ | 136,616 | $ | 64,071 | $ | 27,165 | $ | 48,079 | $ | 53,669 | ||||||||||||
Addback: | ||||||||||||||||||||||||
Fixed charges | 16,877 | 23,128 | 20,612 | 13,909 | 6,158 | 2,781 | ||||||||||||||||||
Subtract: | ||||||||||||||||||||||||
Non-controlling interest | 2,518 | - | - | - | - | - | ||||||||||||||||||
Total earnings | $ | 114,287 | $ | 159,744 | $ | 84,683 | $ | 41,074 | $ | 54,237 | $ | 56,450 | ||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense | $ | 12,210 | $ | 16,673 | $ | 15,626 | $ | 10,574 | $ | 3,985 | $ | 680 | ||||||||||||
Interest component of rental payments (1) | 4,667 | 6,455 | 4,986 | 3,335 | 2,173 | 2,101 | ||||||||||||||||||
Total fixed charges | $ | 16,877 | $ | 23,128 | $ | 20,612 | $ | 13,909 | $ | 6,158 | $ | 2,781 | ||||||||||||
Ratio of earnings to fixed charges | 6.77 | 6.91 | 4.11 | 2.95 | 8.81 | 20.30 | ||||||||||||||||||
(1) Estimated at 33% of rental expense as a reasonable approximation of the interest factor. |
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10-Q Filing
Centene (CNC) 10-Q2009 Q3 Quarterly report
Filed: 27 Oct 09, 12:00am