EX-12.1 2 lo-ex121_770554.txt COMP OF RATIO OF EARNAINGS TO FIXED CHARGES
Exhibit 12.1 LabOne, Inc. and Subsidiaries Statement Regarding Computation of Ratio of Earnings to Fixed Charges and Earnings to Combined Fixed Charges and Preferred Stock Dividends (in thousands, except ratios) Nine Months Years Ended December 31, Ended September 30, ------------------------------------------------ 2004 2003 2003 2002 2001 2000 1999 ------------------- ---- ---- ---- ---- ---- Ratio of Earnings to Fixed Charges 6.41 3.83 4.20 2.87 1.12 1.48 5.22 Earnings before income taxes $29,835 $23,748 $32,704 $24,265 $ 2,101 $ 1,371 $ 6,981 Add: Fixed charges 5,513 7,037 8,833 10,417 4,919 2,850 1,654 Amortization of capitalized interest Distributed income of equity investees Pre-tax losses of equity investees Less: Capitalized interest (20) - - - - - - Preferred dividends, grossed up - (3,836) (4,409) (4,791) (1,525) - - Minority interest in pre-tax earnings of subsidiaries that do not have fixed charges ----------------------------------------------------------------------- Earnings for ratio purposes 35,328 26,949 37,128 29,891 5,495 4,221 8,635 Fixed charges: Interest expense (including amortization of bond 3,814 2,157 3,017 4,486 2,658 2,512 1,410 issue discount, and debt issuance costs) Capitalized interest 20 - - - - - - Interest portion of operating lease expense 1,679 1,044 1,407 1,140 736 338 244 Preferred dividends, grossed up - 3,836 4,409 4,791 1,525 - - ----------------------------------------------------------------------- Fixed charges 5,513 7,037 8,833 10,417 4,919 2,850 1,654 ----------------------------------------------------------------------- EBITDA $45,999 $33,726 $46,586 $37,799 $20,416 $14,583 $16,537 Actual Preferred dividend - $ 2,348 $ 2,699 $ 2,932 $ 933 - -