EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
OMNICARE, INC. AND SUBSIDIARY COMPANIES
UNAUDITED
(in thousands)
Three Months Ended March 31,
2003 2002
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Income before Income Taxes $65,165 $46,411
Add:
Interest Expense 15,472 13,194
Amortization of Debt Expense 984 982
Interest Portion of Rent Expense 3,133 2,630
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Adjusted Income $84,754 $63,217
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Fixed Charges
Interest Expense $15,472 $13,194
Amortization of Debt Expense 984 982
Interest Portion of Rent Expense 3,133 2,630
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Fixed Charges $19,589 $16,806
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Ratio of Earnings to Fixed Charges (1) 4.3x 3.8x
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(1) The ratio of earnings to fixed charges has been computed by dividing
earnings before income taxes plus fixed charges by fixed charges. Fixed
charges consist of interest expense on debt (including the amortization of
debt expense) and one-third (the proportion deemed representative of the
interest portion) of rent expense.