Exhibit 12.1
LabOne, Inc. and Subsidiaries
Statement Regarding Computation of Ratio of Earnings to Fixed Charges and
Earnings to Combined Fixed Charges and Preferred Stock Dividends
(in thousands, except ratios)
Years Ended December 31,
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2004 2003 2002 2001 2000
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Ratio of Earnings to Fixed Charges 6.46 4.20 2.87 1.12 1.48
Earnings before income taxes $40,435 32,704 24,265 2,101 1,371
Add:
Fixed charges 7,394 8,833 10,417 4,919 2,850
Amortization of capitalized interest
Distributed income of equity investees
Pre-tax losses of equity investees
Less:
Capitalized interest (51) - - - -
Preferred dividends, grossed up - (4,409) (4,791) (1,525) -
Minority interest in pre-tax earnings of subsidiaries
that do not have fixed charges - - - - -
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Earnings for ratio purposes $47,778 37,128 29,891 5,495 4,221
Fixed charges:
Interest expense (including amortization of bond issue
discount, and debt issuance costs) $5,144 3,017 4,486 2,658 2,512
Capitalized interest 51 - - - -
Interest portion of operating lease expense(1) 2,199 1,407 1,140 736 338
Preferred dividends, grossed up - 4,409 4,791 1,525 -
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Fixed charges $7,394 8,833 10,417 4,919 2,850
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(1) Represents one-third operating lease expense
Actual Preferred dividends - $ 2,699 2,932 933 -
(1) Represents one-third operating lease expense