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EXHIBIT 12
Omnicare, Inc.
Computation of Ratio of Earnings to Fixed Charges
(in thousands)
For the Years Ended December 31,
1996 1995 1994
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Income before Income Taxes $72,143 $41,180 $22,678
Add:
Interest on Indebtedness 3,432 5,644 6,223
Amortization of Debt Expense 220 310 310
Interest Portion of Rent Expense 1,963 1,522 1,157
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Income as Adjusted $77,758 $48,656 $30,368
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Fixed Charges
Interest on Indebtedness $ 3,432 $ 5,644 $ 6,223
Amortization of Debt Expense 220 310 310
Capitalized Interest 386 158 49
Interest Portion of Rent Expense 1,963 1,522 1,157
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Fixed Charges $ 6,001 $ 7,634 $ 7,739
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Ratio of Earnings to Fixed Charges (1) 12.96X 6.37x 3.92x
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<FN>
(1) The ratio of earnings to fixed charges has been computed by dividing
earnings before income taxes plus fixed charges (excluding capitalized
interest expense) by fixed charges. Fixed charges consist of interest
expense on debt (including capitalized interest) and one-third (the
proportion deemed representative of the interest portion) of rent
expense.
E-97