EX-12 4 ex12-1.htm EXHIBIT 12.1

Exhibit 12.1

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

     

FOR THE
NINE MONTHS
ENDED
 
YEAR ENDED DECEMBER 31,
     
SEPTEMBER 30,
2005
   
2004 
 
 
2003 
 
 
2002 
 
 
2001 
 
 
2000 
 

Income before taxes, equity earnings and minority share of income

    $ 689,838   $ 833,120   $ 737,555   $ 539,177   $ 330,720   $ 204,002  

Adjustments:

   

Distributed income from less than 50% owned companies

      18,263     21,973     13,881     17,034     3,620     2,952  
  Fixed charges       74,522     104,316     100,911     89,567     105,154     145,721  

Earnings before taxes and fixed charges, as adjusted

    $ 782,623   $ 959,409   $ 852,347   $ 645,778   $ 439,494   $ 352,675  
 

Fixed charges:

   
  Interest expense     $ 40,644   $ 60,464   $ 61,064   $ 57,707   $ 77,840   $ 120,471  

Portion of rent expense which represents interest factor

      33,878     43,852     39,847     31,860     27,314     25,250  

Total fixed charges

    $ 74,522   $ 104,316   $ 100,911   $ 89,567   $ 105,154   $ 145,721  
                                         

Ratio of earnings to fixed charges

      10.5x     9.2x     8.4x     7.2x     4.2x     2.4x