EX-12 5 ex12.txt EXHIBIT 12 Exhibit 12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES OMNICARE, INC. AND SUBSIDIARY COMPANIES UNAUDITED (in thousands)
Three Months Ended Six Months Ended June 30, June 30, ------------------ ------------------- 2003 2002 2003 2002 ------- ------- -------- -------- Income before Income Taxes $70,178 $47,319 $135,343 $ 93,730 Add: Interest Expense 20,915 13,492 36,387 26,686 Amortization of Debt Expense 960 983 1,944 1,965 Interest Portion of Rent Expense 2,985 2,142 6,118 4,772 ------- ------- -------- -------- Adjusted Income $95,038 $63,936 $179,792 $127,153 ======= ======= ======== ======== Fixed Charges Interest Expense $20,915 $13,492 $ 36,387 $ 26,686 Amortization of Debt Expense 960 983 1,944 1,965 Interest Portion of Rent Expense 2,985 2,142 6,118 4,772 ------- ------- -------- -------- Fixed Charges $24,860 $16,617 $ 44,449 $ 33,423 ======= ======= ======== ======== Ratio of Earnings to Fixed Charges(1) 3.8x 3.8x 4.0x 3.8x ======= ======= ======== ========
(1) The ratio of earnings to fixed charges has been computed by dividing earnings before income taxes plus fixed charges by fixed charges. Fixed charges consist of interest expense on debt (including the amortization of debt expense) and one-third (the proportion deemed representative of the interest portion) of rent expense.