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)
Three Months Ended
March 31, Years Ended December 31,
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2005 2004 2004 2003 2002 2001 2000
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Ratio of Earnings to Fixed Charges 7.17 6.50 6.46 4.20 2.87 1.12 1.48
Earnings before income taxes 11,538 9,474 $40,435 32,704 24,265 2,101 1,371
Add:
Fixed charges 1,860 1,722 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 (63) - (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 13,335 11,196 $47,778 37,128 29,891 5,495 4,221
Fixed charges:
Interest expense (including 1,277 1,218
amortization of bond issue
discount, and debt issuance
costs) $5,144 3,017 4,486 2,658 2,512
Capitalized interest 63 - 51 - - - -
Interest portion of operating 520 504
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 1,860 1,722 $7,394 8,833 10,417 4,919 2,850
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Actual Preferred dividends - - - $2,699 2,932 933 -
(1) Represents one-third operating lease expense