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EXHIBIT 12.1
TENET HEALTHCARE CORPORATION
STATEMENT RE: COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN MILLIONS)
| Year Ended December 31, | | | | | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | Year Ended May 31, | ||||||||||||||||||
| Seven Months Ended Dec 31, 2002 | |||||||||||||||||||
| 2004 | 2003 | 2002 | 2001 | 2000 | |||||||||||||||
Income (loss) from continuing operations before income taxes | $ | (1,613 | ) | $ | (1,272 | ) | $ | 719 | $ | 653 | $ | 545 | $ | 148 | ||||||
Less: Equity in earnings of unconsolidated affiliates | 16 | 16 | 3 | 7 | 4 | 9 | ||||||||||||||
Minority interests | 3 | (21 | ) | (10 | ) | (24 | ) | (6 | ) | (14 | ) | |||||||||
Add: | ||||||||||||||||||||
Cash dividends received from unconsolidated affiliates | 7 | 4 | 2 | 4 | 4 | 3 | ||||||||||||||
Portion of rents representative of interest | 57 | 54 | 30 | 52 | 49 | 63 | ||||||||||||||
Interest, net of capitalized portion | 333 | 294 | 144 | 324 | 452 | 477 | ||||||||||||||
Amortization of previously capitalized interest | 1 | 7 | 4 | 7 | 6 | 6 | ||||||||||||||
Earnings (loss), as adjusted | (1,228 | )(1) | (908 | )(1) | 906 | 1,057 | 1,058 | 702 | ||||||||||||
Fixed charges: | ||||||||||||||||||||
Interest, net of capitalized portion | 333 | 294 | 144 | 324 | 452 | 477 | ||||||||||||||
Capitalized interest | 11 | 12 | 4 | 9 | 8 | 29 | ||||||||||||||
Portion of rents representative of interest | 57 | 54 | 30 | 52 | 49 | 63 | ||||||||||||||
Total fixed charges | $ | 401 | $ | 360 | $ | 178 | $ | 385 | $ | 509 | $ | 569 | ||||||||
Ratio of earnings to fixed charges: | — | — | 5.1 | 2.7 | 2.1 | 1.2 |
- (1)
- Earnings (loss), as adjusted, were insufficient to cover fixed charges for the years ended December 31, 2004 and 2003 by $1,629 and $1,268, respectively, to provide a one-to-one ratio.
TENET HEALTHCARE CORPORATION STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (DOLLARS IN MILLIONS)