SERVICE CORPORATION INTERNATIONAL Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
Three Months Ended March 31,
1998 1997
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(Thousands, except ratio amounts)
Pretax income from continuing operations......... $ 168,061 $ 205,524
Undistributed income of less than 50%
owned equity investees........................ (1,507) (476)
Minority interest in income of majority
owned subsidiaries with fixed charges........... 76 106
Add fixed charges as adjusted (from below)....... 44,229 44,293
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$ 210,859 $ 249,447
Fixed charges:
Interest expense:
Corporate................................ $ 37,533 $ 33,929
Financial services....................... 2,294 1,712
Capitalized.............................. 689 863
Amortization of debt costs................. 177 609
1/3 of rental expense...................... 4,225 5,414
Dividends on convertible preferred
stock of subsidiary....................... - 2,629
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Fixed charges.................................... 44,918 45,156
less: Capitalized interest................. (689) (863)
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Fixed charges as adjusted........................ $ 44,229 $ 44,293
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Ratio (earnings divided by fixed charges)........ 4.69 5.52
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