EX-12.1 3 d613826dex121.htm EX-12.1 EX-12.1

EXHIBIT 12.1

GENTIVA HEALTH SERVICES, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (A)

($ in thousands)

 

      Fiscal Year Ended     Nine Months
Ended
September 30,
2013		  
     December 28,
2008		      January 3,
2010		     December 31,
2010		     December 31,
2011		     December 31,
2012		    
     (52 weeks)      (53 weeks)     (53 weeks)                    

Earnings:

              

Income from continuing operations before income taxes and equity in net earnings (loss) of affiliate

      176,104         103,977        88,594        (602,348 )      47,232        (194,228 ) 

Add: fixed charges

      28,002         17,879        51,810        103,901        104,567        77,395   

Less: Capitalized interest

      —           (700 )      —          —          —          —     

Less: Income attributable to noncontrolling interests (B)

      —           —          (526 )      (641 )      (884 )      (425 ) 
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total earnings

      204,106         121,156        139,878        (499,088 )      (150,915 )      (117,258 ) 
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed Charges:

              

Interest expense

      19,377         8,211        41,686        91,296        92,608        68,849   

Interest expense relating to rent (C)

      8,625         8,968        10,124        12,605        11,959        8,546   

Capitalized interest

      —           700        —          —          —          —     
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

      28,002         17,879        51,810        103,901        104,567        77,395   
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges (D)

      7.3x         6.8x        2.7x        —          1.4x        —     
  

 

 

     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(A) Ratio of earnings to fixed charges and preferred dividends is not presented as there is no preferred stock outstanding.
(B) Income attributable to noncontrolling interests represents pre-tax income attributable to noncontrolling interests of Odyssey’s non-guarantor subsidiaries.
(C) Interest expense relating to rent represents a portion of rent expense representative of the interest factor; 30% of rent expense was used for this calculation.
(D) For the fiscal year ended December 31, 2011 and the nine months ended September 30, 2013, no ratio of earnings to fixed charges is presented as the earnings for these periods were not sufficient to cover fixed charges. The deficit to cover fixed charges for the fiscal year ended December 31, 2011 was $603.0 million and for the nine months ended September 30, 2013 was $194.7 million.