EXHIBIT 12.1
TENET HEALTHCARE CORPORATION AND SUBSIDIARIES
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN MILLIONS)
AS REPORTED FOR THE YEARS ENDED MAY 31,
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1995 1994 1993 1992 1991
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EARNINGS FROM CONTINUING OPERATIONS
Income before income taxes.................... $ 329.4 $ 359.9 $ 418.6 $ 359.2 $ 245.1
Less:
Equity in earnings of unconsolidated
affiliates................................. 28.4 23.8 12.5 6.7 5.3
Add:
Cash dividends received..................... 8.3 .2 -- -- --
Portion of rents representative of
interest................................... 35.0 30.7 35.8 35.5 31.8
Interest, net of capitalized portion........ 138.1 70.0 75.3 89.4 123.9
Amortization of previously capitalized
interest................................... 4.0 3.8 3.6 3.4 3.0
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Earnings, as adjusted......................... $ 486.4 $ 440.8 $ 520.8 $ 480.8 $ 398.5
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FIXED CHARGES:
Interest, net of capitalized portion.......... $ 138.1 $ 70.0 $ 75.3 $ 89.4 $ 123.9
Capitalized interest.......................... 6.2 3.7 9.0 11.0 16.9
Portion of rents representative of interest... 35.0 30.7 35.8 35.5 31.8
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Total fixed charges....................... $ 179.3 $ 104.4 $ 120.1 $ 135.9 $ 172.6
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RATIO OF EARNINGS TO FIXED CHARGES............ 2.7x 4.2x 4.3x 3.5x 2.3x