Exhibit 12.1
Laidlaw International, Inc.
Earnings to Fixed Charges
(dollars in millions except ratio amounts)
| Predecessor | ||||||||||||||||||||||||||||||||
| Predecessor Company | Company | |||||||||||||||||||||||||||||||
| For the period | For the period | Three Months Ended | ||||||||||||||||||||||||||||||
| Year Ended August 31, | September 1, | June 1, | November 30, | |||||||||||||||||||||||||||||
| 2002 through | 2003 through | |||||||||||||||||||||||||||||||
| 1999 | 2000 | 2001 | 2002 | May 31, 2003 | August 31, 2003 | 2002 | 2003 | |||||||||||||||||||||||||
Consolidated: | ||||||||||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||||||
| Income (loss) from continuing operations before income taxes and cumulative effect of change in accounting principles | $ | (173.3 | ) | $ | (348.5 | ) | $ | (292.3 | ) | $ | 5.1 | $ | 997.1 | $ | (19.9 | ) | $ | 42.5 | $ | 37.7 | ||||||||||||
| Fixed charges | 218.0 | 321.2 | 313.4 | 77.1 | 54.2 | 43.0 | 18.3 | 44.2 | ||||||||||||||||||||||||
| Total earnings (loss) excluding fixed charges | $ | 44.7 | $ | (27.3 | ) | $ | 21.1 | $ | 82.2 | $ | 1,051.3 | $ | 23.1 | $ | 60.8 | $ | 81.9 | |||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||||||
| Interest expense on debt | 185.8 | 275.1 | 270.9 | 27.7 | 19.6 | 31.5 | 6.5 | 32.7 | ||||||||||||||||||||||||
| One-third of rental expense for all operating leases (the amount deemed representative of the interest factor) | 32.2 | 46.1 | 42.5 | 49.4 | 34.6 | 11.5 | 11.8 | 11.5 | ||||||||||||||||||||||||
| Total fixed charges | $ | 218.0 | $ | 321.2 | $ | 313.4 | $ | 77.1 | $ | 54.2 | $ | 43.0 | $ | 18.3 | $ | 44.2 | ||||||||||||||||
Ratio of earnings to fixed charges | 0.2 | (0.1 | ) | 0.1 | 1.1 | 19.4 | 0.5 | 3.3 | 1.9 | |||||||||||||||||||||||
Restricted Group: | ||||||||||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||||||
| Income (loss) from continuing operations before income taxes and cumulative effect of change in accounting principles | $ | (312.7 | ) | $ | 17.9 | $ | 1,141.4 | $ | (49.8 | ) | $ | 59.0 | $ | 46.4 | ||||||||||||||||||
| Fixed charges | 271.8 | 29.5 | 19.8 | 28.6 | 6.8 | 31.3 | ||||||||||||||||||||||||||
| Total earnings (loss) excluding fixed charges | $ | (40.9 | ) | $ | 47.4 | $ | 1,161.2 | $ | (21.2 | ) | $ | 65.8 | $ | 77.7 | ||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||||||
| Interest expense on debt | 249.8 | 6.1 | 3.8 | 23.1 | 1.4 | 25.9 | ||||||||||||||||||||||||||
| One-third of rental expense for all operating leases (the amount deemed representative of the interest factor) | 22.0 | 23.4 | 16.0 | 5.5 | 5.4 | 5.4 | ||||||||||||||||||||||||||
| Total fixed charges | $ | 271.8 | $ | 29.5 | $ | 19.8 | $ | 28.6 | $ | 6.8 | $ | 31.3 | ||||||||||||||||||||
Ratio of earnings to fixed charges | (0.2 | ) | 1.6 | 58.7 | (0.7 | ) | 9.7 | 2.5 | ||||||||||||||||||||||||