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New words:
BCRA, draft, FIMC, footprint, incorrect, leader, margin, midyear, MississippiCAN, ninety, Obama, Ohio, opposition, released, removal, reprocuring, resume, Senate, SilverSummit, thousand, unsubstantiated
Removed:
MCO, payroll, regional, shortly, stayed, uncertain
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Exhibit 12.1
Centene Corporation
Computation of ratio of earnings to fixed charges
($ in millions)
Six Months Ended | Year Ended December 31, | ||||||||||||||||||||||
06/30/17 | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||
Earnings: | |||||||||||||||||||||||
Pre-tax earnings from continuing operations | $ | 640 | $ | 1,157 | $ | 697 | $ | 457 | $ | 269 | $ | 123 | |||||||||||
Addback: | |||||||||||||||||||||||
Fixed charges | 153 | 262 | 65 | 50 | 37 | 29 | |||||||||||||||||
Add (Subtract): | |||||||||||||||||||||||
Noncontrolling interest | 9 | 1 | (2 | ) | 7 | (1 | ) | 13 | |||||||||||||||
Interest capitalized | — | — | — | — | — | — | |||||||||||||||||
Total earnings | $ | 802 | $ | 1,420 | $ | 760 | $ | 514 | $ | 305 | $ | 165 | |||||||||||
Fixed Charges: | |||||||||||||||||||||||
Interest expensed and capitalized | $ | 124 | $ | 217 | $ | 43 | $ | 35 | $ | 27 | $ | 20 | |||||||||||
Interest component of rental payments (1) | 29 | 45 | 22 | 15 | 10 | 9 | |||||||||||||||||
Total fixed charges | $ | 153 | $ | 262 | $ | 65 | $ | 50 | $ | 37 | $ | 29 | |||||||||||
Ratio of earnings to fixed charges | 5.2 | 5.4 | 11.7 | 10.3 | 8.2 | 5.7 | |||||||||||||||||
(1) Estimated at 33% of rental expense as a reasonable approximation of the interest factor. |