EX-12.1 32 a2119172zex-12_1.htm EXHIBIT 12.1

Exhibit 12.1

 

KINETIC CONCEPTS, INC.

Ratio of Earnings to Fixed Charges

(dollars in thousands, except ratio amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

YTD June 30,

 

LTM June 30,
2003 (2)

 

 

 

1998

 

1999

 

2000 (1)

 

2001

 

2002 (2)

 

2002

 

2003

 

 

Net Earnings

 

11,776

 

(314

)

9,129

 

23,901

 

43,744

 

20,029

 

35,945

 

59,660

 

Income Tax

 

7,851

 

620

 

6,476

 

17,307

 

29,163

 

12,538

 

21,567

 

38,192

 

Interest Expense

 

48,594

 

46,502

 

48,635

 

45,116

 

40,943

 

20,692

 

16,228

 

36,479

 

 

 

68,221

 

46,808

 

64,240

 

86,324

 

113,850

 

53,259

 

73,740

 

134,331

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Expense

 

48,594

 

46,502

 

48,635

 

45,116

 

40,943

 

20,692

 

16,228

 

36,479

 

Interest in Operating Leases

 

4,945

 

5,387

 

5,129

 

4,797

 

6,531

 

2,966

 

3,575

 

7,140

 

Total Fixed Charges

 

53,539

 

51,889

 

53,764

 

49,913

 

47,474

 

23,658

 

19,803

 

43,619

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed-Charge Ratio

 

1.3

x

0.9

x(3)

1.2

x

1.7

x

2.4

x

2.3

x

3.7

x

3.1

x

 


(1)  In December 2000, we began reporting international results on a current-month basis.  As a result of this change, the 2000 fiscal year included a 13th monthly period for the international segment which increased reported revenue and operating earnings by approximately $8.0 million and $1.1 million, respectively.

 

(2)  This calculation excludes pretax income of $173.3 million ($175.0 million less expenses of $1.7 million) from Hillenbrand as part of an antitrust settlement.

 

(3)  In 1999, the fixed charge ratio indicated less than one-to-one coverage of $5.1 million.