EXHIBIT 12.1
TENET HALTHCARE CORPORATION
STATEMENT RE: COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN MILLIONS)
FOR THE
SIX MONTHS
ENDED
NOVEMBER
FOR THE YEAR ENDED MAY 31, 30,
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1994 1995 1996 1997 1998 1997 1998
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Income from continuing operations before income taxes............................... $314 $417 $ 881 $(21) $ 647 $422 $425
Less: Equity in earnings of unconsolidated affiliates............................... 27 43 25 1 5 2 --
Add:
Cash dividends received from unconsolidated affiliates............................ 3 8 6 5 4 2 2
Portion of rents representative of interest....................................... 41 53 76 79 89 43 43
Interest, net of capitalized portion.............................................. 157 251 425 417 464 230 238
Amortization of previously capitalized interest................................... 4 4 4 4 5 2 2
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Income, as adjusted................................................................. 492 690 1,367 483 1,204 697 710
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Fixed charges:
Interest, net of capitalized portion................................................ 157 251 425 417 464 230 238
Capitalized interest................................................................ 5 8 11 12 16 6 9
Portion of rents representative of interest......................................... 41 53 76 79 89 43 43
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Total fixed charges................................................................. $203 $312 $ 512 $508 $ 569 $279 $290
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Ratio of earnings to fixed charges:................................................. 2.4x 2.2x 2.7x 1.0x 2.1x 2.5x 2.4x