Premier, Inc. Ratio of Earnings to Fixed Charges ($ in thousands) | Exhibit 12.1 |
Three Months Ended September 30, | Twelve Months Ended June 30, | |||||||||||||||||||||||||||
2017 | 2016 | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income before income taxes | $ | 73,380 | $ | 81,431 | $ | 531,291 | $ | 284,882 | $ | 271,127 | $ | 360,326 | $ | 384,812 | ||||||||||||||
Less: equity in net income of unconsolidated affiliates | (4,252 | ) | (9,579 | ) | (14,745 | ) | (21,647 | ) | (21,285 | ) | (16,976 | ) | (11,968 | ) | ||||||||||||||
Plus: distributed income of equity investees | — | 6,550 | 6,550 | 22,093 | 18,900 | 15,650 | 13,491 | |||||||||||||||||||||
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Adjusted income before taxes | 69,128 | 78,402 | 523,096 | 285,328 | 268,742 | 359,000 | 386,335 | |||||||||||||||||||||
Fixed charges | 2,870 | 1,401 | 8,911 | 6,547 | 5,917 | 3,416 | 2,958 | |||||||||||||||||||||
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Adjusted earnings | $ | 71,998 | $ | 79,803 | $ | 532,007 | $ | 291,875 | $ | 274,659 | $ | 362,416 | $ | 389,293 | ||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense, including capitalized interest | $ | 1,865 | $ | 464 | $ | 5,226 | $ | 2,683 | $ | 1,600 | $ | 203 | $ | 146 | ||||||||||||||
Amortized premiums, discounts, and capitalized expenses related to indebtedness | 136 | 136 | 545 | 523 | 530 | 165 | — | |||||||||||||||||||||
Portion of interest in rental expense | 869 | 801 | 3,140 | 3,341 | 3,787 | 3,048 | 2,812 | |||||||||||||||||||||
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Fixed charges | $ | 2,870 | $ | 1,401 | $ | 8,911 | $ | 6,547 | $ | 5,917 | $ | 3,416 | $ | 2,958 | ||||||||||||||
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Ratio of earnings to fixed charges | 25.1 | x | 57.0 | x | 59.7 | x | 44.6 | x | 46.4 | x | 106.1 | x | 131.6 | x | ||||||||||||||
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Total rent expense | $ | 2,634 | $ | 2,426 | $ | 9,516 | $ | 10,125 | $ | 11,475 | $ | 9,235 | $ | 8,522 | ||||||||||||||
Portion representing interest | 33 | % | 33 | % | 33 | % | 33 | % | 33 | % | 33 | % | 33 | % | ||||||||||||||
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Portion of interest in rental expense | $ | 869 | $ | 801 | $ | 3,140 | $ | 3,341 | $ | 3,787 | $ | 3,048 | $ | 2,812 |