Service Corporation International (SCI) 10-K/A 2003 FY Annual report (amended)

Exhibit 12.1

SERVICE CORPORATION INTERNATIONAL
RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except ratio amounts)

	Twelve months ended December 31,
	2003		2002			2001			2000			1999
			(Restated)			(Restated)			(Restated)
			Note 2			Note 2			Note 2
Earnings:
Income (loss) from continuing operations before income taxes and cumulative effects of accounting changes	$	111,219	$	(119,850	)	$	(418,617	)	$	(465,933	)	$	(70,266	)
Undistributed income of less than 50% owned equity investees		—		—			(939	)		(2,510	)		267
Minority interest in income of majority owned subsidiaries with fixed charges		715		706			(799	)		408			(1,490	)
Add: fixed charges as adjusted (from below)		162,349		180,589			241,859			318,204			274,654
	$	274,283	$	61,445		$	(178,496	)	$	(149,831	)	$	203,165
Fixed charges:
Interest expense:
Corporate	$	133,498	$	153,770		$	204,751		$	273,723		$	234,476
Financial service		—		—			—			8,833			11,805
Capitalized		—		—			—			1			1,430
Amortization of debt cost		9,237		7,102			6,106			6,392			1,954
1/3 of rental expense		19,614		19,717			31,002			29,256			26,419
Fixed charges		162,349		180,589			241,859			318,205			276,084
Less: Capitalized interest		—		—			—			(1	)		(1,430	)
Fixed charges as adjusted	$	162,349	$	180,589		$	241,859		$	318,204		$	274,654
Ratio (earnings divided by fixed charges)		1.69		A			A			A			A

A.   During the twelve months ended December 31, 2002, 2001, 2000, and 1999 the ratio coverage was less than 1:1. In order to achieve a coverage of 1:1, the Company would have had to generate additional income from continuing operations before income taxes and cumulative effects of accounting changes of $119,144, $420,355, $468,035, and $71,489 for the twelve months ended December 31, 2002, 2001, 2000, and 1999, respectively.