EX-12.1 46 exhibit121-computationofra.htm EXHIBIT 12.1 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit

Exhibit 12.1

Molina Healthcare, Inc.

Computation of Ratio of Earnings to Fixed Charges

 
Year Ended December 31,
 
Six Months Ended June 30,
 
2015
 
2014
 
2013
 
2012
 
2011
 
2016
 
2015
 
(Dollars in millions)
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes, continuing operations
$
322

 
$
135

 
$
81

 
$
23

 
$
120

 
$
144

 
$
168

Add fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense, including amortization of debt discount and expense
66

 
57

 
52

 
17

 
16

 
50

 
30

Estimated interest portion of rental expense
8

 
5

 
4

 
3

 
2

 
6

 
3

Total fixed charges
74

 
62

 
56

 
20

 
18

 
56

 
33

Total earnings available for fixed charges
$
396

 
$
197

 
$
137

 
$
43

 
$
138

 
$
200

 
$
201

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges from above:
$
74

 
$
62

 
$
56

 
$
20

 
$
18

 
$
56

 
$
33

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
5.4

 
3.2

 
2.4

 
2.2

 
7.7

 
3.6

 
6.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total rent expense
$
44

 
$
32

 
$
25

 
$
20

 
$
23

 
$
31

 
$
19

Interest factor
18
%
 
16
%
 
16
%
 
14
%
 
11
%
 
18
%
 
16
%
Interest component of rental expense
$
8

 
$
5

 
$
4

 
$
3

 
$
2

 
$
6

 
$
3