Exhibit 99.3
SERVICE CORPORATION INTERNATIONAL
RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except ratio amounts)
| Three Months Ended March 31, | ||||||||
| 2004 | 2003 | |||||||
Earnings: | ||||||||
| Income from continuing operations before income taxes and cumulative effects of accounting changes | $ | 71,445 | $ | 70,112 | ||||
| Minority interest in income of majority owned subsidiaries that have not incurred fixed charges | 148 | 141 | ||||||
| Add fixed charges as adjusted (from below) | 39,018 | 42,300 | ||||||
| $ | 110,611 | $ | 112,553 | |||||
Fixed charges: | ||||||||
| Interest expense: | ||||||||
| Corporate | $ | 31,385 | $ | 35,016 | ||||
| Amortization of debt costs | 2,413 | 2,354 | ||||||
| 1/3 of rental expense | 5,220 | 4,930 | ||||||
| Fixed charges | 39,018 | 42,300 | ||||||
| Less: Capitalized interest | — | — | ||||||
| Fixed charges as adjusted | $ | 39,018 | $ | 42,300 | ||||
| Ratio (earnings divided by fixed charges) | 2.83 | 2.66 | ||||||
