Exhibit 12.1
Centene Corporation | |||||||||||||||||||
Computation of ratio of earnings to fixed charges | |||||||||||||||||||
($ in thousands) | |||||||||||||||||||
For The Three Months Ended | Year Ended December 31, | ||||||||||||||||||
3/31/2012 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||
Earnings: | |||||||||||||||||||
Pre-tax earnings from continuing operations | $ | 34,690 | $ | 174,885 | $ | 154,282 | $ | 137,508 | $ | 136,616 | $ | 64,071 | |||||||
Addback: | |||||||||||||||||||
Fixed charges | 6,953 | 27,822 | 26,141 | 23,104 | 23,128 | 20,612 | |||||||||||||
Subtract: | |||||||||||||||||||
Non-controlling interest | 1,375 | 2,855 | (3,435 | ) | (2,574 | ) | - | - | |||||||||||
Interest capitalized | - | - | (1,089 | ) | (116 | ) | - | - | |||||||||||
Total earnings | $ | 43,018 | $ | 205,562 | $ | 175,899 | $ | 157,922 | $ | 159,744 | $ | 84,683 | |||||||
Fixed Charges: | |||||||||||||||||||
Interest expensed and capitalized | $ | 4,799 | $ | 20,320 | $ | 19,081 | $ | 16,434 | $ | 16,673 | $ | 15,626 | |||||||
Interest component of rental payments (1) | 2,154 | 7,502 | 7,060 | 6,670 | 6,455 | 4,986 | |||||||||||||
Total fixed charges | $ | 6,953 | $ | 27,822 | $ | 26,141 | $ | 23,104 | $ | 23,128 | $ | 20,612 | |||||||
Ratio of earnings to fixed charges | 6.19 | 7.39 | 6.73 | 6.84 | 6.91 | 4.11 | |||||||||||||
(1) Estimated at 33% of rental expense as a reasonable approximation of the interest factor. |