SERVICE CORPORATION INTERNATIONAL Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
Nine Months Ended September 30,
1997 1996
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(Thousands, except ratio amounts)
Pretax income from continuing operations... $ 438,407 $ 299,565
Undistributed income of less than 50%
owned equity investees.................... (2,618) (4,359)
Minority interest in income of majority
owned subsidiaries with fixed charges..... 128 408
Add fixed charges as adjusted (from below). 126,782 132,885
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$ 562,699 $ 428,499
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Fixed charges:
Interest expense:
Corporate........................... $ 99,372 $ 101,511
Financial services.................. 5,857 7,344
Capitalized......................... 2,681 1,565
Amortization of debt costs............ 993 1,415
1/3 of rental expense................. 16,178 14,529
Dividends on convertible preferred
stock of subsidiary................. 4,382 8,086
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Fixed charges.............................. 129,463 134,450
Less: Capitalized interest............ (2,681) (1,565)
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Fixed charges as adjusted.................. $ 126,782 $ 132,885
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Ratio (earnings divided by fixed charges).. 4.35 3.19
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