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EXHIBIT 12.1
SERVICE CORPORATION INTERNATIONAL
RATIO OF EARNINGS TO FIXED CHARGES
<Table>
<Caption>
Years ended December 31,
2002 2001
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(Thousands, except ratio amounts)
(Loss) from continuing operations before income taxes, extraordinary items and
cumulative effects of accounting changes .................................... $ (140,963) $ (535,428)
Undistributed income of less than 50% owned equity investees ..................... 0 (939)
Minority interest in income of majority owned subsidiaries
that have not incurred fixed charges ........................................ 706 (799)
Add fixed charges (from below) ................................................... 181,211 242,628
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$ 40,954 $ (294,538)
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Fixed charges:
Interest expense:
Corporate ................................................................... $ 154,392 $ 205,520
Amortization of debt costs .................................................. 7,102 6,106
1/3 of rental expense ............................................................ 19,717 31,002
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Fixed charges .................................................................... $ 181,211 $ 242,628
============ ============
Ratio (earnings divided by fixed charges) ........................................ (A) (A)
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</Table>
(A) Due to the loss in the twelve months ended December 31, 2002 and 2001, the
ratio coverage was less than 1:1. In order to achieve a coverage of 1:1, the
Company would have had to generate additional income before income taxes,
extraordinary items and cumulative effects of accounting changes of $140,257 and
$537,166 for the years ended December 31, 2002 and 2001, respectively.
Excluding impairment losses and other operating expenses, the ratio of earnings
to fixed charges would have been 1.82 and 1.44 for the twelve months ended
December 31, 2002 and 2001, respectively.