Exhibit 12.1
EXPRESS SCRIPTS, INC.
Calculation of Ratio of Earnings to Fixed Charges
(Dollar amounts in millions)
Six | ||||||||||||||||||||||||
Months | ||||||||||||||||||||||||
Ended | Twelve Months Ended December 31, | |||||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||||
Income from continuing operations before income taxes | $ | 1,043.6 | $ | 1,908.7 | $ | 1,308.4 | $ | 1,207.4 | $ | 940.2 | $ | 738.3 | ||||||||||||
Add: | ||||||||||||||||||||||||
Undistributed loss from joint venture | — | — | — | 0.3 | 1.3 | 1.6 | ||||||||||||||||||
Interest expense | 90.0 | 167.1 | 194.4 | 77.6 | 108.4 | 95.7 | ||||||||||||||||||
Estimated interest component of rental expense | 5.0 | 13.4 | 9.3 | 9.6 | 9.8 | 8.4 | ||||||||||||||||||
Income as adjusted | $ | 1,138.6 | $ | 2,089.2 | $ | 1,512.1 | $ | 1,294.9 | $ | 1,059.7 | $ | 844.0 | ||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense | 90.0 | 167.1 | 194.4 | 77.6 | 108.4 | 95.7 | ||||||||||||||||||
Estimated interest component of rental expense | 5.0 | 13.4 | 9.3 | 9.6 | 9.8 | 8.4 | ||||||||||||||||||
Total fixed charges | $ | 95.0 | $ | 180.5 | $ | 203.7 | $ | 87.2 | $ | 118.2 | $ | 104.1 | ||||||||||||
Ratio of Earnings to Fixed Charges | 12.0 | 11.6 | 7.4 | 14.8 | 9.0 | 8.1 |
Note: Interest component of rental expense estimated to be 1/3 of rental expense, which management believes represents a reasonable approximation of the interest factor.