EXHIBIT 12
Select Medical Holdings Corporation
Ratio of Earnings to Fixed Charges
(in thousands)
(unaudited)
Ratio of Earnings to Fixed Charges
(in thousands)
(unaudited)
For the Year Ended December 31, | ||||||||||||||||||||
2006 | 2007 | 2008 | 2009 | 2010 | ||||||||||||||||
Pre-tax income from operations before adjustments for non-controlling interests in consolidated subsidiaries or loss from equity investees | $ | 127,336 | $ | 55,666 | $ | 51,897 | $ | 116,404 | $ | 124,432 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense and amortization of debt discount and premium on all indebtedness | 131,831 | 140,155 | 145,894 | 132,469 | 112,337 | |||||||||||||||
Capitalized interest | 2,016 | 3,757 | 474 | 427 | 767 | |||||||||||||||
Rentals: | ||||||||||||||||||||
Buildings - 33% (A) | 27,736 | 32,490 | 36,380 | 38,644 | 39,033 | |||||||||||||||
Office and other equipment - 33% (A) | 11,337 | 11,023 | 9,580 | 9,309 | 12,038 | |||||||||||||||
Preferred stock dividend requirements of consolidated subsidiaries | 34,632 | 36,374 | 53,970 | 29,273 | — | |||||||||||||||
Total fixed charges | $ | 207,552 | $ | 223,799 | $ | 246,299 | $ | 210,121 | $ | 164,175 | ||||||||||
Pre-tax income from operations before adjustment for non-controlling interests in consolidated subsidiaries or loss from equity investees plus fixed charges, less preferred stock dividend requirements of consolidated subsidiaries less capitalized interest | $ | 332,872 | $ | 275,708 | $ | 297,722 | $ | 326,098 | $ | 287,840 | ||||||||||
Ratio of earnings to fixed charges | 1.60 | 1.23 | 1.21 | 1.55 | 1.75 | |||||||||||||||
(A) | The Company uses 33% to estimate the interest on its rentals. This percentage is a reasonable approximation of the interest factor. |
Select Medical Corporation
Ratio of Earnings to Fixed Charges
(in thousands)
(unaudited)
Ratio of Earnings to Fixed Charges
(in thousands)
(unaudited)
For the Year Ended December 31, | ||||||||||||||||||||
2006 | 2007 | 2008 | 2009 | 2010 | ||||||||||||||||
Pre-tax income from operations before adjustments for non-controlling interests in consolidated subsidiaries or loss from equity investees | $ | 163,245 | $ | 85,997 | $ | 84,100 | $ | 152,037 | $ | 152,297 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense and amortization of debt discount and premium on all indebtedness | 97,288 | 105,497 | 110,889 | 99,543 | 84,472 | |||||||||||||||
Capitalized interest | 2,016 | 3,757 | 474 | 427 | 767 | |||||||||||||||
Rentals: | ||||||||||||||||||||
Buildings - 33% (A) | 27,736 | 32,490 | 36,380 | 38,644 | 39,033 | |||||||||||||||
Office and other equipment - 33% (A) | 11,337 | 11,023 | 9,580 | 9,309 | 12,038 | |||||||||||||||
Total fixed charges | $ | 138,377 | $ | 152,767 | $ | 157,323 | $ | 147,922 | $ | 136,310 | ||||||||||
Pre-tax income from operations before adjustment for non-controlling interests in consolidated subsidiaries or loss from equity investees plus fixed charges, less preferred stock dividend requirements of consolidated subsidiaries, less capitalized interest | $ | 299,606 | $ | 235,007 | $ | 240,949 | $ | 299,532 | $ | 287,840 | ||||||||||
Ratio of earnings to fixed charges | 2.17 | 1.54 | 1.53 | 2.02 | 2.11 | |||||||||||||||
(A) | The Company uses 33% to estimate the interest on its rentals. This percentage is a reasonable approximation of the interest factor. |