EX-12.1 40 y95979exv12w1.txt STATEMENT RE COMPUTATION OF RATIO OF EARNINGS Exhibit 12.1 TEAM HEALTH, INC. COMPUTATION OF EARNINGS TO FIXED CHARGES ALL FIGURES $'000, EXCEPT COVERAGE RATIOS
THREE MONTHS ENDED YEAR ENDED DECEMBER 31, MARCH 31, ----------------------------------------------------- -------------------- 1999 2000 2001 2002 2003 2003 2004 -------- -------- -------- -------- -------- -------- -------- Earnings: Earnings (loss) before income taxes $ 2,072 $ 22,597 $ (588) $ 29,630 $ (4,221) $ (38,450) $ 40 Fixed charges 21,963 27,519 24,899 24,491 24,903 6,317 7,954 -------- -------- -------- -------- -------- --------- -------- Earnings (loss) before income taxes and fixed charges $ 24,035 $ 50,116 $ 24,311 $ 54,121 $ 20,682 (32,133) 7,994 Fixed charges: Interest expense $ 21,963 $ 27,519 $ 24,899 $ 24,491 $ 24,903 6,317 7,954 Ratio of earnings to fixed charges 1.1 1.8 (a) 2.2 (a) (a) 1.0
-------------------- (a) Earnings for the years ended December 31, 2003 (Proforma), December 31, 2003, and December 31, 2001 were inadequate to cover fixed charges with a deficiency of $4.2 million, and $588 thousand, respectively. For the three months ended March 31, 2003 earnings were insufficient to cover fixed charges by $38.5 million.