SERVICE CORPORATION INTERNATIONAL Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
Six Months Ended June 30,
1998 1997
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(Thousands, except ratio amounts)
Pretax income from continuing operations....... $308,564 $326,814
Undistributed income of less than 50%
owned equity investees...................... (3,027) (2,049)
Minority interest in income of majority
owned subsidiaries with fixed charges......... 140 125
Add fixed charges as adjusted (from below)..... 91,402 86,524
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$397,079 $411,414
Fixed charges:
Interest expense:
Corporate.............................. $ 78,649 $ 66,762
Financial services..................... 4,772 3,719
Capitalized............................ 1,541 1,704
Amortization of debt costs............... (475) 869
1/3 of rental expense.................... 8,456 10,792
Dividends on convertible preferred
stock of subsidiary..................... - 4,382
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Fixed charges.................................. 92,943 88,228
Less: Capitalized interest............... (1,541) (1,704)
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Fixed charges as adjusted...................... $ 91,402 $ 86,524
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Ratio (earnings divided by fixed charges)...... 4.27 4.66
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