Exhibit 12.1
Premier, Inc. |
Ratio of Earnings to Fixed Charges |
($ in thousands) |
Three Months Ended September 30, | Twelve Months Ended June 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income before income taxes | $ | 70,698 | $ | 113,292 | $ | 360,326 | $ | 384,812 | $ | 334,897 | $ | 316,964 | ||||||||||||
Less: equity in net income of unconsolidated affiliates | (4,866 | ) | (4,114 | ) | (16,976 | ) | (11,968 | ) | (12,122 | ) | (10,827 | ) | ||||||||||||
Plus: distributed income of equity investees | 5,050 | — | 15,650 | 13,491 | 12,288 | 12,375 | ||||||||||||||||||
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Adjusted income before taxes | 70,882 | 109,178 | 359,000 | 386,335 | 335,063 | 318,512 | ||||||||||||||||||
Fixed charges | 1,011 | 779 | 3,416 | 2,958 | 2,642 | 3,082 | ||||||||||||||||||
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Adjusted earnings | $ | 71,893 | $ | 109,957 | $ | 362,416 | $ | 389,293 | $ | 337,705 | $ | 321,594 | ||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense, including capitalized interest | $ | 56 | $ | 48 | $ | 203 | $ | 146 | $ | 36 | $ | 14 | ||||||||||||
Amortized premiums, discounts, and capitalized expenses related to indebtedness | 126 | — | 165 | — | — | — | ||||||||||||||||||
Portion of interest in rental expense | 829 | 731 | 3,048 | 2,812 | 2,606 | 3,068 | ||||||||||||||||||
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Fixed charges | $ | 1,011 | $ | 779 | $ | 3,416 | $ | 2,958 | $ | 2,642 | $ | 3,082 | ||||||||||||
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Ratio of earnings to fixed charges | 71.1 | x | 141.2 | x | 106.1 | x | 131.6 | x | 127.8 | x | 104.3 | x | ||||||||||||
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Total rent expense | $ | 2,511 | $ | 2,214 | $ | 9,235 | $ | 8,522 | $ | 7,898 | $ | 9,296 | ||||||||||||
Portion representing interest | 33 | % | 33 | % | 33 | % | 33 | % | 33 | % | 33 | % | ||||||||||||
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Portion of interest in rental expense | $ | 829 | $ | 731 | $ | 3,048 | $ | 2,812 | $ | 2,606 | $ | 3,068 |