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Exhibit 12.1
Centene Corporation
Computation of ratio of earnings to fixed charges
($ in millions)
Nine Months Ended | Year Ended December 31, | ||||||||||||||||||
9/30/18 | 2017 | 2016 | 2015 | 2014 | |||||||||||||||
Earnings: | |||||||||||||||||||
Pre-tax earnings from continuing operations | $ | 1,011 | $ | 1,134 | $ | 1,157 | $ | 697 | $ | 457 | |||||||||
Addback: | |||||||||||||||||||
Fixed charges | 296 | 311 | 262 | 65 | 50 | ||||||||||||||
Add (Subtract): | |||||||||||||||||||
Noncontrolling interest | 6 | 20 | 1 | (2 | ) | 7 | |||||||||||||
Total earnings | $ | 1,313 | $ | 1,465 | $ | 1,420 | $ | 760 | $ | 514 | |||||||||
Fixed Charges: | |||||||||||||||||||
Interest expense | $ | 245 | $ | 255 | $ | 217 | $ | 43 | $ | 35 | |||||||||
Interest component of rental payments (1) | 51 | 56 | 45 | 22 | 15 | ||||||||||||||
Total fixed charges | $ | 296 | $ | 311 | $ | 262 | $ | 65 | $ | 50 | |||||||||
Ratio of earnings to fixed charges | 4.4 | 4.7 | 5.4 | 11.7 | 10.3 | ||||||||||||||
(1) Estimated at 33% of rental expense as a reasonable approximation of the interest factor. |