EX-12.1 4 c49043_ex12-1.htm 3B2 EDGAR HTML from 49043 1..1 ++

Exhibit 12.1

QUEST DIAGNOSTICS INCORPORATED
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSANDS, EXCEPT RATIOS)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For The
Three Months
Ended
March 31,

 

Year Ended December 31,

 

2007

 

2006

 

2005

 

2004

 

2003

 

2002

Income from continuing operations before taxes, equity earnings and minority share of income

 

 

$

 

176,273

   

 

$

 

1,028,161

   

 

$

 

941,498

   

 

$

 

822,880

   

 

$

 

725,920

   

 

$

 

531,469

 

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

 

Distributed income from less than 50% owned companies

 

 

 

5,300

   

 

 

26,411

   

 

 

25,492

   

 

 

21,973

   

 

 

13,881

   

 

 

17,034

 

Fixed charges

 

 

 

41,428

   

 

 

147,133

   

 

 

108,751

   

 

 

103,725

   

 

 

100,312

   

 

 

88,997

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings from continuing operations before taxes and fixed charges, as adjusted

 

 

$

 

223,001

   

 

$

 

1,201,705

   

 

$

 

1,075,741

   

 

$

 

948,578

   

 

$

 

840,113

   

 

$

 

637,500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

$

 

28,168

   

 

$

 

96,997

   

 

$

 

63,266

   

 

$

 

60,464

   

 

$

 

61,064

   

 

$

 

57,707

 

Portion of rent expense which represents interest factor

 

 

 

13,260

   

 

 

50,136

   

 

 

45,485

   

 

 

43,261

   

 

 

39,248

   

 

 

31,290

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

 

$

 

41,428

   

 

$

 

147,133

   

 

$

 

108,751

   

 

$

 

103,725

   

 

$

 

100,312

   

 

$

 

88,997

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 

 

5.4x

   

 

 

8.2x

   

 

 

9.9x

   

 

 

9.2x

   

 

 

8.4x

   

 

 

7.2x