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TENET HEALTHCARE CORPORATION
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
| Year Ended May 31, | Three Months Ended August 31, | ||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1997 | 1998 | 1999 | 2000 | 2001 | 2000 | 2001 | |||||||||||||||
Income from continuing operations before income taxes | $ | 26 | $ | 647 | $ | 474 | $ | 618 | $ | 1,142 | $ | 257 | $ | 382 | ||||||||
Less: Equity in earnings of unconsolidated affiliates | 1 | 5 | (3 | ) | 8 | 11 | 2 | 2 | ||||||||||||||
Add: | ||||||||||||||||||||||
Cash dividends received from unconsolidated affiliates | 5 | 4 | 4 | 8 | 4 | (1 | ) | 1 | ||||||||||||||
Portion of rents representative of interest | 79 | 89 | 91 | 90 | 74 | 19 | 19 | |||||||||||||||
Interest, net of capitalized portion | 417 | 464 | 485 | 479 | 456 | 123 | 97 | |||||||||||||||
Amortization of previously capitalized interest | 4 | 5 | 5 | 6 | 6 | 2 | 2 | |||||||||||||||
Income, as adjusted | 530 | 1,204 | 1,062 | 1,193 | 1,671 | 398 | 499 | |||||||||||||||
Fixed charges: | ||||||||||||||||||||||
Interest, net of capitalized portion | 417 | 464 | 485 | 479 | 456 | 123 | 97 | |||||||||||||||
Capitalized interest | 12 | 16 | 20 | 29 | 8 | 2 | 3 | |||||||||||||||
Portion of rents representative of interest | 79 | 89 | 91 | 90 | 74 | 19 | 19 | |||||||||||||||
Total fixed charges | $ | 508 | $ | 569 | $ | 596 | $ | 598 | $ | 538 | $ | 144 | $ | 119 | ||||||||
Ratio of earnings to fixed charges: | 1.0x | 2.1x | 1.8x | 2.0x | 3.1x | 2.8x | 4.2x |
Exhibit 12.1
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES