EX-12.1 2 a2148161zex-12_1.htm EXHIBIT 12.1
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EXHIBIT 12.1


TENET HEALTHCARE CORPORATION

STATEMENT RE: COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES

(DOLLARS IN MILLIONS)

 
   
   
   
   
   
  Year Ended
December 31,

  For the Nine Months Ended September 30,
 
 
  Year Ended May 31,
   
 
 
  Seven Months
Ended
Dec 31, 2002

 
 
  1999
  2000
  2001
  2002
  2002
  2003
  2003
  2004
 
Income from continuing operations before income taxes   $ 90   $ 154   $ 550   $ 661   $ 721   $ 1,196   $ (1,287 ) $ (310 ) $ (301 )
Less: equity in earnings of unconsolidated affiliates     (3 )   9     4     7     3     7     16     8     14  
Minority interests     (3 )   (14 )   (6 )   (24 )   (10 )   (21 )   (21 )   (21 )   (6 )
Add:                                                        
  Cash dividends received from unconsolidated affiliates     4     3     4     4     2     3     4     3     3  
  Portion of rents representative of interest     66     64     50     52     30     52     54     40     43  
  Interest, net of capitalized portion     481     477     452     324     144     261     294     219     242  
  Amortization of previously capitalized interest     5     6     6     7     4     7     7     5     6  
   
 
 
 
 
 
 
 
 
 
Earnings (loss), as adjusted     652     709     1,064     1,065     908     1,533     (923 )(1)   (30 )(1)   (15 )(1)
   
 
 
 
 
 
 
 
 
 
Fixed charges:                                                        
Interest, net of capitalized portion     481     477     452     324     144     261     294     219     242  
Capitalized interest     20     29     8     9     4     8     12     9     8  
Portion of rents representative of interest     66     64     50     52     30     52     54     40     43  
   
 
 
 
 
 
 
 
 
 
Total fixed charges   $ 567   $ 570   $ 510   $ 385   $ 178   $ 321   $ 360   $ 268   $ 293  
   
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges:     1.1     1.2     2.1     2.8     5.1     4.8              

(1)
Earnings (loss), as adjusted, were insufficient to cover fixed charges for the year ended December 31, 2003 and the nine-months ended September 30, 2004 and 2003 by $1,283 million, $298 million and $308 million, respectively, to provide a one-to-one ratio.



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TENET HEALTHCARE CORPORATION STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (DOLLARS IN MILLIONS)