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EXHIBIT 12
STATEMENT RE: COMPUTATION OF RATIOS
AS REQUIRED BY ITEM 601(b)(12) OF REGULATION S-K
NATIONAL HEALTHCARE L.P.
December 31
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1994 1993 1992 1991 1990
Current Assets $ 97,506 $109,291 $ 64,115 $ 53,320 $ 51,565
-------- -------- -------- -------- --------
Current Liabilities $ 55,038 $ 39,798 $ 26,132 $ 25,324 $ 24,990
Current Ratio 1.78 2.75 2.45 2.11 2.06
Long-Term Debt and Debt
Serviced by Other
Parties $194,007 $166,741 $164,330 $169,907 $160,853
-------- -------- -------- -------- --------
Equity $101,006 $ 92,526 $ 67,922 $ 61,824 $ 55,441
Long-Term Debt and Debt
Serviced by Other
Parties to Equity 1.92 1.80 2.42 2.75 2.90
Net Income $ 15,853 $ 37,562 $ 9,501 $ 17,667 $ 17,091
-------- -------- -------- -------- --------
Average Equity $ 96,766 $ 80,224 $ 64,873 $ 58,632 $ 49,755
Return on Average Equity 16.4% 46.8% 14.6% 30.1% 34.4%
Total Liabilities $279,847 $237,306 $221,166 $195,231 $186,634
-------- -------- -------- -------- --------
Partners' Capital and
Deferred Income $116,286 $107,374 $ 82,908 $ 76,981 $ 70,895
Total Liabilities to
Partners' Capital
and Deferred Income 2.4 2.2 2.7 2.5 2.6
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