EX-12.1 2 exhibit121.htm RATIO OF EARNINGS TO FIXED CHARGES 2014.03.31 Exhibit 12.1


Exhibit 12.1
Centene Corporation
Computation of ratio of earnings to fixed charges
($ in thousands)
 
Three Months Ended
 
Year Ended December 31,
 
03/31/14
 
2013
 
2012
 
2011
 
2010
 
2009
Earnings:
 
 
 
 
 
 
 
 
 
 
 
Pre-tax earnings from continuing operations
$
67,735

 
$
268,917

 
$
122,792

 
$
188,349

 
$
154,282

 
$
137,508

Addback:
 
 
 
 
 
 
 
 
 
 
 
Fixed charges
9,837

 
37,042

 
29,556

 
27,757

 
26,141

 
23,104

Subtract:
 
 
 
 
 
 
 
 
 
 
 
Non-controlling interest
636

 
(619
)
 
13,154

 
2,855

 
(3,435
)
 
(2,574
)
Interest capitalized
—

 
—

 
—

 
—

 
(1,089
)
 
(116
)
Total earnings
$
78,208

 
$
305,340

 
$
165,502

 
$
218,961

 
$
175,899

 
$
157,922

 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
Interest expensed and capitalized
$
7,023

 
$
26,957

 
$
20,460

 
$
20,320

 
$
19,081

 
$
16,434

Interest component of rental payments (1)
2,814

 
10,085

 
9,096

 
7,437

 
7,060

 
6,670

Total fixed charges
$
9,837

 
$
37,042

 
$
29,556

 
$
27,757

 
$
26,141

 
$
23,104

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
7.95

 
8.24

 
5.60

 
7.89

 
6.73

 
6.84

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Estimated at 33% of rental expense as a reasonable approximation of the interest factor.