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 Nine Months Ended September 30, September 30, ----------------------- ------------------------- 2003 2002 2003 2002 -------- ------- -------- -------- Income before Income Taxes $ 78,227 $46,895 $213,570 $140,625 Add: Interest Expense 25,175 13,355 61,562 40,041 Amortization of Debt Expense 1,141 984 3,085 2,949 Interest Portion of Rent Expense 3,080 3,118 9,198 7,890 -------- ------- -------- -------- Adjusted Income $107,623 $64,352 $287,415 $191,505 ======== ======= ======== ======== Fixed Charges Interest Expense $ 25,175 $13,355 $ 61,562 $ 40,041 Amortization of Debt Expense 1,141 984 3,085 2,949 Interest Portion of Rent Expense 3,080 3,118 9,198 7,890 -------- ------- -------- -------- Fixed Charges $ 29,396 $17,457 $ 73,845 $ 50,880 ======== ======= ======== ======== Ratio of Earnings to Fixed Charges (1) 3.7 x 3.7 x 3.9 x 3.8 x ======== ======= ======== ========
(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.