EX-12.1 6 d941734dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Kindred Healthcare, Inc.

Statement of Computation of Ratio of Earnings to Fixed Charges

(In thousands, except statistics)

 

    

 

Year Ended December 31,

     Six Months
ended
June 30,

2015
 
     2010     2011     2012     2013     2014     

COMPUTATION OF FIXED CHARGES:

             

Interest expensed and capitalized in continuing operations, including amortization of debt discounts and fees

   $ 8,270     $ 82,355     $ 110,235     $ 108,082     $ 168,787      $ 119,882  

Interest expensed and capitalized in discontinued operations, including amortization of debt discounts and fees

     105       78       72       52       18        1  

Interest component of rental expense(1)

     124,169       137,715       148,086       141,806       132,049        64,400  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

Total fixed charges

   $ 132,544     $ 220,148     $ 258,393     $ 249,940     $ 300,854      $ 184,283  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

COMPUTATION OF EARNINGS:

             

Pretax income (loss) from continuing operations before adjustment for noncontrolling interest in consolidated subsidiaries and income or loss from equity investees

   $ 24,409     $ (86,367 )   $ (17,808 )   $ (52,622 )   $ 4,253      $ (105,588

Fixed charges

     132,544       220,148       258,393       249,940       300,854        184,283  

Distributed income of equity investees

     700       2,865       1,917       1,580       272        2,995  

Amortization of capitalized interest, less interest capitalized

     (1,015 )     (1,241 )     (2,104 )     87       79        (91 )
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 
   $ 156,638     $ 135,405     $ 240,398     $ 198,985     $ 305,458      $ 81,599  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

     1.18x        0.62x        0.93x        0.80x        1.02x         0.44x   

 

(1) Management has estimated the interest component of rental expense to approximate 33%.