DaVita (DVA) 10-K 2013 FY Annual report

Exhibit 12.1

DAVITA HEALTHCARE PARTNERS INC.

RATIO OF EARNINGS TO FIXED CHARGES

The ratio of earnings to fixed charges is computed by dividing earnings by fixed charges. Earnings for this purpose are defined as pretax income from continuing operations adjusted by adding back fixed charges expensed during the period less noncontrolling interests. Fixed charges include debt expense (interest expense and the amortization of deferred financing costs), the estimated interest component of rent expense on operating leases, and capitalized interest.

	Year ended December 31,
	2013			2012			2011			2010			2009
	(dollars in thousands)
Earnings adjusted for fixed charges:
Income from continuing operations before income taxes	$	1,124,978		$	1,001,304		$	916,605		$	741,238		$	752,632
Add:
Debt expense		429,943			288,554			241,090			181,607			185,755
Interest portion of rent expense		137,558			112,424			95,919			86,656			80,710
Less: Noncontrolling interests		(124,276	)		(105,891	)		(95,899	)		(79,048	)		(57,285	)
		443,225			295,087			241,110			189,215			209,180
	$	1,568,203		$	1,296,391		$	1,157,715		$	930,453		$	961,812
Fixed charges:
Debt expense	$	429,943		$	288,554		$	241,090		$	181,607		$	185,755
Interest portion of rent expense		137,558			112,424			95,919			86,656			80,710
Capitalized interest		6,408			8,127			4,887			2,621			3,627
	$	573,909		$	409,105		$	341,896		$	270,884		$	270,092
Ratio of earnings to fixed charges		2.73			3.17			3.39			3.43			3.56