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Exhibit 12.1
Centene Corporation
Computation of ratio of earnings to fixed charges
($ in thousands)
Nine Months Ended | Year Ended December 31, | ||||||||||||||||||||||
9/30/2012 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||
Earnings: | |||||||||||||||||||||||
Pre-tax earnings (loss) from continuing operations | $ | (22,002 | ) | $ | 174,885 | $ | 154,282 | $ | 137,508 | $ | 136,616 | $ | 64,071 | ||||||||||
Addback: | |||||||||||||||||||||||
Fixed charges | 21,172 | 27,822 | 26,141 | 23,104 | 23,128 | 20,612 | |||||||||||||||||
Subtract: | |||||||||||||||||||||||
Non-controlling interest | 8,732 | 2,855 | (3,435 | ) | (2,574 | ) | — | — | |||||||||||||||
Interest capitalized | — | — | (1,089 | ) | (116 | ) | — | — | |||||||||||||||
Total earnings | $ | 7,902 | $ | 205,562 | $ | 175,899 | $ | 157,922 | $ | 159,744 | $ | 84,683 | |||||||||||
Fixed Charges: | |||||||||||||||||||||||
Interest expensed and capitalized | $ | 14,393 | $ | 20,320 | $ | 19,081 | $ | 16,434 | $ | 16,673 | $ | 15,626 | |||||||||||
Interest component of rental payments (1) | 6,779 | 7,502 | 7,060 | 6,670 | 6,455 | 4,986 | |||||||||||||||||
Total fixed charges | $ | 21,172 | $ | 27,822 | $ | 26,141 | $ | 23,104 | $ | 23,128 | $ | 20,612 | |||||||||||
Ratio of earnings to fixed charges | 0.37 | 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. |