EX-12.1 3 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 Three
Months Ended
  
Year Ended December 31,
  
   
3/31/2012
  
2011
  
2010
  
2009
  
2008
  
2007
  
Earnings:
                          
Pre-tax earnings from continuing operations
   $ 34,690   $ 174,885   $ 154,282   $ 137,508   $ 136,616   $ 64,071  
Addback:
                                      
Fixed charges
     6,953     27,822     26,141     23,104     23,128     20,612  
Subtract:
                                      
Non-controlling interest
     1,375     2,855     (3,435 )   (2,574 )   -     -  
Interest capitalized
     -     -     (1,089 )   (116 )   -     -  
   Total earnings
   $ 43,018   $ 205,562   $ 175,899   $ 157,922   $ 159,744   $ 84,683  
                                       
Fixed Charges:
                                      
Interest expensed and capitalized
   $ 4,799   $ 20,320   $ 19,081   $ 16,434   $ 16,673   $ 15,626  
Interest component of rental payments (1)
     2,154     7,502     7,060     6,670     6,455     4,986  
   Total fixed charges
   $ 6,953   $ 27,822   $ 26,141   $ 23,104   $ 23,128   $ 20,612  
                                       
Ratio of earnings to fixed charges
     6.19     7.39     6.73     6.84     6.91     4.11  
                                       
(1) Estimated at 33% of rental expense as a reasonable approximation of the interest factor.