Exhibit 12
AmerisourceBergen Corporation
Calculation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
For the Year Ended September 30, | For the Three Months Ended December 31, | |||||||||||||||||
1998 | 1999 | 2000 | 2001 | 2002 | 2002 | |||||||||||||
Determination of earnings: | ||||||||||||||||||
Income before taxes | $ | 80,752 | $ | 113,870 | $ | 159,700 | $ | 200,657 | $ | 572,047 | $ | 153,287 | ||||||
Fixed charges (excludes capitalized interest) |
| 63,804 |
| 50,844 |
| 47,753 |
| 55,169 |
| 160,627 |
| 39,403 | ||||||
Total earnings as defined | $ | 144,556 | $ | 164,714 | $ | 207,453 | $ | 255,826 | $ | 732,674 | $ | 192,690 | ||||||
Fixed charges: | ||||||||||||||||||
Interest expense | $ | 58,179 | $ | 45,132 | $ | 41,857 | $ | 47,860 | $ | 141,100 | $ | 34,385 | ||||||
Estimated interest portion of rent expense |
| 5,625 |
| 5,712 |
| 5,896 |
| 7,316 |
| 19,893 |
| 5,018 | ||||||
Total fixed charges | $ | 63,804 | $ | 50,844 | $ | 47,753 | $ | 55,176 | $ | 160,993 | $ | 39,403 | ||||||
Ratio of earnings to fixed charges |
| 2.3 |
| 3.2 |
| 4.3 |
| 4.6 |
| 4.6 |
| 4.9 | ||||||
The above ratios of earnings to fixed charges have been computed by dividing our earnings from continuing operations before taxes and fixed charges, by the fixed charges. For purposes of these ratios, fixed charges consist of interest, whether expensed or capitalized, amortization of deferred financing costs, distributions on preferred trust securities and the portion of rent expense representative of interest.