EX-12 3 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 March 31, ------------------ 2004 2003 -------- ------- Income before Income Taxes $ 99,928 $65,165 Add: Interest Expense 15,561 15,472 Amortization of Debt Expense 1,151 984 Interest Portion of Rent Expense 3,455 3,133 -------- ------- Adjusted Income $120,095 $84,754 ======== ======= Fixed Charges Interest Expense $ 15,561 $15,472 Amortization of Debt Expense 1,151 984 Interest Portion of Rent Expense 3,455 3,133 -------- ------- Fixed Charges $ 20,167 $19,589 ======== ======= Ratio of Earnings to Fixed Charges (1) 6.0x 4.3x ======== =======
(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.