1
EXHIBIT 12.1
EXTENDICARE HEALTH SERVICES, INC.
RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSANDS UNLESS OTHERWISE NOTED)
NINE MONTHS ENDED YEAR ENDED DECEMBER 31,
SEPTEMBER 30, ---------------------------------
1997 1996 1995 1994
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Fixed charges
Interest, net $ 13,633 $ 18,477 $ 14,776 $ 13,083
add: interest income 1,155 1,084 1,302 1,323
capitalized interest 539 384 679 222
deferred financing charges 356 449 457 384
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Interest on indebtedness 15,683 20,394 17,214 15,012
Proportion of rents representative
of the interest factors 2,140 2,627 2,702 2,676
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$ 17,823 $ 23,021 $ 19,916 $ 17,688
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Earnings before income taxes,
minority interests and extraordinary
items $ 47,248 $ 56,990 $ 42,398 $ 35,211
add: fixed charges above 17,823 23,021 19,916 17,688
deduct: capitalized interest above (539) (384) (679) (222)
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Earnings for computation purposes $ 64,532 $ 79,627 $ 61,635 $ 52,677
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Ratio 3.6x 3.5x 3.1x 3.0x
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