SERVICE CORPORATION INTERNATIONAL Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
Three Months Ended March 31,
1999 1998
(Thousands, except ratio amounts)
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Pretax income from continuing operations... $ 66,417 $ 168,061
Undistributed income of less than
50% owned equity investees................ (2,389) (1,507)
Minority interest in income of majority
owned subsidiaries with fixed charges..... 205 76
Add fixed charges as adjusted (from below). 66,844 44,229
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$ 131,077 $ 210,859
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Fixed charges:
Interest expense:
Corporate............................... $ 57,626 $ 37,533
Financial services...................... 2,968 2,294
Capitalized ........................... 495 689
Amortization of debt costs................ (177) 177
1/3 of rental expense..................... 6,427 4,225
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fixed charges ............................. 67,339 44,918
Less: Capitalized interest.............. (495) (689)
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Fixed charges as adjusted.................. $ 66,844 $ 44,229
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Ratio (earnings divided by fixed charges).. 1.95 4.69
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