EX-12 2 ex12.htm EXHIBIT 12

EXHIBIT 12

Computation of Ratio of Earnings to Fixed Charges

Omnicare, Inc. and Subsidiary Companies

Unaudited

(in thousands, except ratio)

 

 

 

Three Months Ended
March 31,

 

 

 

 

 

 

2005

 

2004

 

 

 

 

 

Income before Income Taxes

 

$

92,797

 

$

99,928

 

Add Fixed Charges:

 

 

 

 

 

 

 

Interest Expense

 

 

18,746

 

 

15,561

 

Amortization of Debt Expense

 

 

1,173

 

 

1,151

 

Interest Portion of Rent Expense

 

 

4,378

 

 

3,455

 

 

 

 

 

Adjusted Income

 

$

117,094

 

$

120,095

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

Interest Expense

 

$

18,746

 

$

15,561

 

Amortization of Debt Expense

 

 

1,173

 

 

1,151

 

Interest Portion of Rent Expense

 

 

4,378

 

 

3,455

 

 

 

 

 

Fixed Charges

 

$

24,297

 

$

20,167

 

 

 

 

 

Ratio of Earnings to Fixed Charges(1)

 

 

4.8

x

 

6.0

x

 

 

 

 

(1)

The ratio of earnings to fixed charges has been computed by adding income before taxes and fixed charges to derive adjusted income, and dividing adjusted income 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.