EXHIBIT 12.1
GENTIVA HEALTH SERVICES, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (A)
($ in thousands)
| Fiscal Year Ended | Nine Months Ended September 30, 2013 | |||||||||||||||||||||||
| December 28, 2008 | January 3, 2010 | December 31, 2010 | December 31, 2011 | December 31, 2012 | ||||||||||||||||||||
| (52 weeks) | (53 weeks) | (53 weeks) | ||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income from continuing operations before income taxes and equity in net earnings (loss) of affiliate | 176,104 | 103,977 | 88,594 | (602,348 | ) | 47,232 | (194,228 | ) | ||||||||||||||||
Add: fixed charges | 28,002 | 17,879 | 51,810 | 103,901 | 104,567 | 77,395 | ||||||||||||||||||
Less: Capitalized interest | — | (700 | ) | — | — | — | — | |||||||||||||||||
Less: Income attributable to noncontrolling interests (B) | — | — | (526 | ) | (641 | ) | (884 | ) | (425 | ) | ||||||||||||||
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Total earnings | 204,106 | 121,156 | 139,878 | (499,088 | ) | (150,915 | ) | (117,258 | ) | |||||||||||||||
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Fixed Charges: | ||||||||||||||||||||||||
Interest expense | 19,377 | 8,211 | 41,686 | 91,296 | 92,608 | 68,849 | ||||||||||||||||||
Interest expense relating to rent (C) | 8,625 | 8,968 | 10,124 | 12,605 | 11,959 | 8,546 | ||||||||||||||||||
Capitalized interest | — | 700 | — | — | — | — | ||||||||||||||||||
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Total fixed charges | 28,002 | 17,879 | 51,810 | 103,901 | 104,567 | 77,395 | ||||||||||||||||||
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Ratio of earnings to fixed charges (D) | 7.3x | 6.8x | 2.7x | — | 1.4x | — | ||||||||||||||||||
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| (A) | Ratio of earnings to fixed charges and preferred dividends is not presented as there is no preferred stock outstanding. |
| (B) | Income attributable to noncontrolling interests represents pre-tax income attributable to noncontrolling interests of Odyssey’s non-guarantor subsidiaries. |
| (C) | Interest expense relating to rent represents a portion of rent expense representative of the interest factor; 30% of rent expense was used for this calculation. |
| (D) | For the fiscal year ended December 31, 2011 and the nine months ended September 30, 2013, no ratio of earnings to fixed charges is presented as the earnings for these periods were not sufficient to cover fixed charges. The deficit to cover fixed charges for the fiscal year ended December 31, 2011 was $603.0 million and for the nine months ended September 30, 2013 was $194.7 million. |