EX-12.1 4 exhibit121.htm RATIO OF EARNINGS TO FIXED CHARGES exhibit121.htm
Exhibit 12.1
 
 
Centene Corporation
                                   
Computation of ratio of earnings to fixed charges
                                   
($ in thousands)
                                   
   
For The Six
Months Ended
   
Year Ended December 31,
 
   
6/30/2011
   
2010
   
2009
   
2008
   
2007
   
2006
 
Earnings:
                                   
Pre-tax earnings from continuing operations
  $ 81,643     $ 154,282     $ 137,508     $ 136,616     $ 64,071     $ 27,165  
Addback:
                                               
Fixed charges
    14,407       26,141       23,104       23,128       20,612       13,909  
Subtract:
                                               
Non-controlling interest
    1,233       (3,435 )     (2,574 )     -       -       -  
Interest capitalized
    -       (1,089 )     (116 )     -       -       -  
   Total earnings
  $ 97,283     $ 175,899     $ 157,922     $ 159,744     $ 84,683     $ 41,074  
                                                 
Fixed Charges:
                                               
Interest expensed and capitalized
  $ 10,951     $ 19,081     $ 16,434     $ 16,673     $ 15,626     $ 10,574  
Interest component of rental payments (1)
    3,456       7,060       6,670       6,455       4,986       3,335  
   Total fixed charges
  $ 14,407     $ 26,141     $ 23,104     $ 23,128     $ 20,612     $ 13,909  
                                                 
Ratio of earnings to fixed charges
    6.75       6.73       6.84       6.91       4.11       2.95  
                                                 
(1) Estimated at 33% of rental expense as a reasonable approximation of the interest factor.