Exhibit 12.1
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
Radiation Therapy Services Holdings, Inc.
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| Predecessor |
| Successor |
| Pro Forma |
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| Period From |
| Period From |
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| Three |
| Three |
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| Three |
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| Year Ended |
| January 1 to |
| February 22 to |
| Year Ended |
| Year Ended |
| Year Ended |
| Months Ended |
| Months Ended |
| Year Ended |
| Months Ended |
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| December 31, |
| February 21, |
| December 31, |
| December 31, |
| December 31, |
| December 31, |
| March 31, |
| March 31, |
| December 31, |
| March 31, |
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| 2007 |
| 2008 |
| 2008 |
| 2009 |
| 2010 |
| 2011 |
| 2011 |
| 2012 |
| 2011 |
| 2012 |
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Pre-tax income before adjustment for noncontrolling interests in consolidated subsidiaries |
| 42,644 |
| (10,283 | ) | (4,266 | ) | (6,713 | ) | (126,600 | ) | (375,248 | ) | (611 | ) | (8,286 | ) | (383,465 | ) | (8,879 | ) |
(Income)Loss from equity investees |
| 46 |
| (39 | ) | 118 |
| (880 | ) | (1,001 | ) | 1,036 |
| 250 |
| 381 |
| 1,036 |
| 381 |
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Distributed income of equity investees |
| — |
| — |
| — |
| 301 |
| 1,007 |
| 633 |
| 300 |
| 9 |
| 633 |
| 9 |
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Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges |
| (1,211 | ) | (19 | ) | (2,483 | ) | (1,835 | ) | (1,698 | ) | (3,558 | ) | (1,439 | ) | (1,153 | ) | (3,558 | ) | (1,153 | ) |
Fixed Charges |
| 21,298 |
| 4,981 |
| 57,070 |
| 65,137 |
| 62,490 |
| 65,656 |
| 15,578 |
| 18,924 |
| 73,873 |
| 19,517 |
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Earnings |
| 62,777 |
| (5,360 | ) | 50,439 |
| 56,010 |
| (65,802 | ) | (311,481 | ) | 14,078 |
| 9,875 |
| (311,481 | ) | 9,875 |
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Interest expense |
| 20,250 |
| 4,783 |
| 55,863 |
| 63,119 |
| 59,098 |
| 61,212 |
| 14,633 |
| 17,682 |
| 69,429 |
| 18,275 |
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An estimate of the interest within rental expense |
| 1,048 |
| 198 |
| 1,207 |
| 2,018 |
| 3,392 |
| 4,444 |
| 945 |
| 1,242 |
| 4,444 |
| 1,242 |
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Fixed Charges |
| 21,298 |
| 4,981 |
| 57,070 |
| 65,137 |
| 62,490 |
| 65,656 |
| 15,578 |
| 18,924 |
| 73,873 |
| 19,517 |
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Ratio of earnings to fixed charges |
| 2.95 |
| — |
| — |
| — |
| — |
| — |
| — |
| — |
| — |
| — |
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Deficiency to cover charges (2) |
| — |
| 10,341 |
| 6,631 |
| 9,127 |
| 128,292 |
| 377,137 |
| 1,500 |
| 9,049 |
| 385,354 |
| 9,642 |
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(1) For purposes of computing the ratio of earnings to fixed charges, earnings consist of income (loss) before provision for income taxes plus fixed charges. Fixed charges consist of interest expense on all indebtness including amortization of deferred financing costs and the portion of operating lease rental expense that is representative of the interest factor.
(2) Coverage deficiency represents the amount by which earnings were insufficient to cover fixed charges.