DaVita (DVA) 10-K 2014 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,
	2014			2013			2012			2011			2010
	(in thousands, except share data)
Earnings adjusted for fixed charges:
Income from continuing operations before income taxes	$	1,309,673		$	1,124,978		$	1,001,304		$	916,605		$	741,238
Add:
Debt expense		410,294			429,943			288,554			241,090			181,607
Interest portion of rent expense		149,432			137,558			112,424			95,919			86,656
Less: Noncontrolling interests		(140,949	)		(124,276	)		(105,891	)		(95,899	)		(79,048	)
		418,777			443,225			295,087			241,110			189,215
	$	1,728,450		$	1,568,203		$	1,296,391		$	1,157,715		$	930,453
Fixed charges:
Debt expense		410,294			429,943			288,554			241,090			181,607
Interset portion of rent expense		149,432			137,558			112,424			95,919			86,656
Capitalized interest		7,888			6,408			8,127			4,887			2,621
	$	567,614		$	573,909		$	409,105		$	341,896		$	270,884
Ratio of earnings to fixed charges		3.05			2.73			3.17			3.39			3.43