Exhibit 12.1
QUEST DIAGNOSTICS INCORPORATED
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSANDS, EXCEPT RATIOS)
| FOR THE NINE MONTHS ENDED | YEAR ENDED DECEMBER 31, | |||||||||||||||||||
| SEPTEMBER 30, 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | |||||||||||||||
Income before taxes, equity earnings and minority share of income | $ | 689,838 | $ | 833,120 | $ | 737,555 | $ | 539,177 | $ | 330,720 | $ | 204,002 | ||||||||
Adjustments: | ||||||||||||||||||||
Distributed income from less than 50% owned companies | 18,263 | 21,973 | 13,881 | 17,034 | 3,620 | 2,952 | ||||||||||||||
| Fixed charges | 74,522 | 104,316 | 100,911 | 89,567 | 105,154 | 145,721 | ||||||||||||||
Earnings before taxes and fixed charges, as adjusted | $ | 782,623 | $ | 959,409 | $ | 852,347 | $ | 645,778 | $ | 439,494 | $ | 352,675 | ||||||||
Fixed charges: | ||||||||||||||||||||
| Interest expense | $ | 40,644 | $ | 60,464 | $ | 61,064 | $ | 57,707 | $ | 77,840 | $ | 120,471 | ||||||||
Portion of rent expense which represents interest factor | 33,878 | 43,852 | 39,847 | 31,860 | 27,314 | 25,250 | ||||||||||||||
Total fixed charges | $ | 74,522 | $ | 104,316 | $ | 100,911 | $ | 89,567 | $ | 105,154 | $ | 145,721 | ||||||||
Ratio of earnings to fixed charges | 10.5x | 9.2x | 8.4x | 7.2x | 4.2x | 2.4x | ||||||||||||||
