EX-12.01 6 l18252aexv12w01.htm EX-12.01 EX-12.01
 

Exhibit 12.01
CARDINAL HEALTH, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                                                 
          Six Months  
                                            Ended  
    Fiscal Year Ended June 30,     December 31,  
             
(in millions, except for ratios)   2001     2002     2003     2004     2005     2005  
                                                 
Earnings before income taxes, discontinued operations,
and cumulative effect of change in accounting
   $ 1,340.8     $ 1,737.2     $ 2,088.9     $ 2,243.0     $ 1,690.2     $ 791.2  
 
                                                
Plus fixed charges:
                                                
Interest expense
     158.1       134.2       119.6       101.9       167.9       92.3  
Capitalized interest
     2.7       3.9       6.3       8.1       8.2       2.5  
Amortization of debt offering costs
     2.3       3.1       3.3       3.6       3.4       1.6  
Interest portion of rent expense(1)
     37.5       32.9       18.4       20.2       24.9       13.2  
 
                                    
Fixed charges
     200.6       174.1       147.6       133.8       204.4       109.6  
 
                                                
Plus amortization of capitalized interest
     —       —       1.1       1.6       2.1       1.8  
Less capitalized interest
     (2.7 )     (3.9 )     (6.3 )     (8.1 )     (8.2 )     (2.5 )
 
                                    
 
                                                
Earnings
   $ 1,538.7     $ 1,907.4     $ 2,231.3     $ 2,370.3     $ 1,888.5     $ 900.1  
 
                                    
 
                                                
Ratio of earnings to fixed charges
     7.7       11.0       15.1       17.7       9.2       8.2  
 
(1)   Fixed charges include the interest portion of rent expense. In calculating the interest portion of rent expense in fiscal 2001 and 2002, Cardinal Health used a prior convention which assumed that one-third of rental payments represented interest. Cardinal Health refined its calculation for fiscal 2003, 2004 and 2005.