EX-12.1 6 dex121.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of earnings to fixed charges

Exhibit 12.1

Statement of Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends

Dollars in millions

The following table sets forth the ratio of earnings to fixed charges and preferred stock dividends of UnitedHealth Group Incorporated for the periods indicated.

 

     Nine Months
EndedSept. 30, 2007
   Year Ended December 31,
        2006    2005    2004    2003    2002

Earnings(1):

                 

Earnings from Continuing Operations

   $ 5,811    $ 6,984    $ 5,080    $ 3,858    $ 2,671    $ 1,969

Add back:

                 

Fixed Charges

     456      533      294      168      137      131
                                         

Total earnings

   $ 6,267    $ 7,517    $ 5,374    $ 4,026    $ 2,808    $ 2,100
                                         

Fixed Charges(1):

                 

Interest, capitalized and expensed

   $ 391    $ 456    $ 241    $ 128    $ 95    $ 90

Interest component of rental payments

     50      63      46      36      40      39

Amortization of debt discount and rental expense

     15      14      7      4      2      2

Convertible Preferred Stock Dividends

     —        —        —        —        —        —  
                                         

Total fixed charges

   $ 456    $ 533    $ 294    $ 168    $ 137    $ 131
                                         

Ratio of Earnings to Fixed Charges and Preferred Stock Dividends

     13.7      14.1      18.3      24.0      20.5      16.0
                                         

 

(1) For purposes of computing this ratio, earnings represent income from continuing operations. Fixed charges represent interest expense including amounts capitalized plus the interest factor in rental expense and any preferred stock dividend requirements, adjusted to a pretax basis.