Exhibit 12
PSS WORLD MEDICAL, INC. AND SUBSIDIARIES
COMPUTATION OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES
FOR THE YEARS ENDED MARCH 29, 2002, MARCH 30, 2001, MARCH 31, 2000,
APRIL 2, 1999 and APRIL 3, 1998
(Dollars in Thousands)
Fiscal Year Ended | ||||||||||||||||
2002 | 2001 | 2000 | 1999 | 1998 | ||||||||||||
Fixed charges: | ||||||||||||||||
Interest expense | $ | 12,674 | $ | 20,394 | $ | 15,457 | $ | 11,522 | $ | 7,517 | ||||||
Capitalized interest | 1,801 | 1,612 | 1,377 | — | — | |||||||||||
Interest component of rental expense | 17,669 | 17,923 | 16,375 | 13,089 | 10,840 | |||||||||||
Fixed charges | $ | 32,144 | $ | 39,929 | $ | 33,209 | $ | 24,611 | $ | 18,357 | ||||||
Earnings: | ||||||||||||||||
Income (loss) before income taxes and cumulative effect of accounting change | $ | 14,007 | $ | (43,890 | ) | $ | 41,527 | $ | 73,681 | $ | 36,349 | |||||
Add: Fixed charges | 32,144 | 39,929 | 33,209 | 24,611 | 18,357 | |||||||||||
Less: Capitalized interest | 1,801 | 1,612 | 1,377 | — | — | |||||||||||
Total earnings (loss) | $ | 44,350 | $ | (5,573 | ) | $ | 73,359 | $ | 98,292 | $ | 54,706 | |||||
Ratio of earnings (loss) to fixed charges: | ||||||||||||||||
Total earnings (loss) | $ | 44,350 | $ | (5,573 | ) | $ | 73,359 | $ | 98,292 | $ | 54,706 | |||||
Fixed charges | $ | 32,144 | $ | 39,929 | $ | 33,209 | $ | 24,611 | $ | 18,357 | ||||||
Ratio | 1.4 | N/A | 2.2 | 4.0 | 3.0 | |||||||||||
(a) | (a) |
(a) | The consolidated ratios of earnings to fixed charges shown above is calculated in accordance with Section 229.503 (d) of Regulation S-K and is not calculated in the same manner as defined under the Notes. (Refer to Note 11,Long-Term Debt). The consolidated ratio of earnings to fixed charges, as defined in the Notes agreement, includes certain add backs to the numerator and denominator that are not included in Section 229.503 (d) of Regulation S-K. |