CVS HEALTH CORPORATION
Computation of Ratio of Earnings to Fixed Charges
Fiscal Years | ||||||||||||||||||||
In millions | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
Earnings: | ||||||||||||||||||||
Earnings from continuing operations before income taxes and extraordinary items | $ | 8,613.5 | $ | 7,677.1 | $ | 7,527.1 | $ | 6,307.1 | $ | 5,750.5 | ||||||||||
Interest portion of net rental expense | 763.7 | 785.3 | 750.3 | 741.7 | 715.8 | |||||||||||||||
Interest expense (net of interest capitalized) | 859.5 | 615.4 | 517.5 | 561.2 | 588.5 | |||||||||||||||
Adjusted earnings | $ | 10,236.7 | $ | 9,077.8 | $ | 8,794.9 | $ | 7,610.0 | $ | 7,054.8 | ||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest portion of net rental expense | 763.7 | 785.3 | 750.3 | 741.7 | 715.8 | |||||||||||||||
Interest expense (net of interest capitalized) | 859.5 | 615.4 | 517.5 | 561.2 | 588.5 | |||||||||||||||
Interest capitalized | 11.8 | 18.9 | 24.6 | 28.6 | 36.5 | |||||||||||||||
Total fixed charges | $ | 1,635.0 | $ | 1,419.6 | $ | 1,292.4 | $ | 1,331.5 | $ | 1,340.8 | ||||||||||
Ratio of earnings to fixed charges | 6.26 | x | 6.39 | x | 6.81 | x | 5.72 | x | 5.26 | x |