Exhibit 12.1
DST SYSTEMS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSANDS)
3 Months
ended March
31, 2005 2004 2003 2002 2001 2000
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Pretax income from continuing
operations before adjustment
for minority interests in
consolidated subsidiaries or
income or loss from equity $ 67,720 $296,706 $417,707 $310,132 $354,977 $325,318
investees
Add:
Fixed Charges 20,136 73,114 50,328 38,946 31,851 29,351
Amortization of capitalized
interest 51 189 167 179 162 118
Distributed earnings of equity
investees 473 - 102 371 49 92
Subtract:
Capitalized interest - (597) (571) (210) (1,005) (852)
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Pretax income as adjusted $ 88,379 $369,412 $467,733 $349,418 $386,034 $354,027
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Fixed charges:
Interest expense 16,619 $55,204 $26,877 $13,379 $ 7,452 $ 5,561
Interest capitalized - 597 571 210 1,005 852
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16,619 55,801 27,448 13,589 8,457 6,413
Portion of rents representative
of an appropriate interest
factor (1) 3,517 17,313 22,880 25,357 23,394 22,938
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Total fixed charges $ 20,136 $73,114 $50,328 $38,946 $31,851 $29,351
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Ratio of earnings to fixed
charges 4.4 5.1 9.3 9.0 12.1 12.1
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(1) Rents represent one-third of rent expense.