Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
OMNICARE, INC. AND SUBSIDIARY COMPANIES
UNAUDITED
(in thousands)
Three Months Ended Six Months Ended
June 30, June 30,
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2003 2002 2003 2002
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Income before Income Taxes $70,178 $47,319 $135,343 $ 93,730
Add:
Interest Expense 20,915 13,492 36,387 26,686
Amortization of Debt Expense 960 983 1,944 1,965
Interest Portion of Rent Expense 2,985 2,142 6,118 4,772
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Adjusted Income $95,038 $63,936 $179,792 $127,153
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Fixed Charges
Interest Expense $20,915 $13,492 $ 36,387 $ 26,686
Amortization of Debt Expense 960 983 1,944 1,965
Interest Portion of Rent Expense 2,985 2,142 6,118 4,772
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Fixed Charges $24,860 $16,617 $ 44,449 $ 33,423
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Ratio of Earnings to Fixed Charges(1) 3.8x 3.8x 4.0x 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.