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Exhibit 12.2
SERVICE CORPORATION INTERNATIONAL
RATIO OF EARNINGS TO FIXED CHARGES
(Thousands, except ratio amounts)
YEARS ENDED DECEMBER 31,
1994 1993 1992 1991 1990
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Pretax income . . . . . . . . . . . . . . . . . . . . . . $ 219,021 $ 173,492 $ 139,336 $ 108,872 $ 99,432
Undistributed income of less than 50% owned equity
investees . . . . . . . . . . . . . . . . . . . . . . . (1,019) (325) (718) (252) (146)
Minority interest in income of majority owned subsidiaries
with fixed charges. . . . . . . . . . . . . . . . . . . 2,234 1,938 1,798 1,752 1,334
Add fixed charges as adjusted (from below) . . . . . . . 101,831 78,841 68,584 59,508 52,845
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$ 322,067 $ 253,946 $ 209,000 $ 169,880 $ 153,465
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Fixed charges:
Interest expense:
Corporate . . . . . . . . . . . . . . . . . . . . . $ 80,123 $ 59,631 $ 53,902 $ 42,429 $ 36,095
Financial services 9,912 7,725 5,826 9,453 10,171
Capitalized. . . . . . . . . . . . . . . . . . . . . 584 705 481 701 467
Amortization of debt costs . . . . . . . . . . . . . . 311 288 328 116 126
1/3 of rental expense . . . . . . . . . . . . . . . . 11,485 11,197 8,528 7,510 6,453
Dividends on convertible preferred stock
of subsidiary . . . . . . . . . . . . . . . . . . . 539 - - - -
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Fixed charges . . . . . . . . . . . . . . . . . . . . . . 102,954 79,546 69,065 60,209 53,312
Fixed charges as adjusted:
Less: Capitalized interest (584) (705) (481) (701) (467)
Dividends on convertible preferred stock
of subsidiary . . . . . . . . . . . . . . (539) - - - -
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Fixed charges as adjusted . . . . . . . . . . . . . . . . $ 101,831 $ 78,841 $ 68,584 $ 59,508 $ 52,845
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Ratio (earnings divided by fixed charges) . . . . . . . . 3.13 3.19 3.03 2.82 2.88
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