EX-12.1 4 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

 

Exhibit 12

 

AmerisourceBergen Corporation

Calculation of Ratio of Earnings to Fixed Charges

(in thousands, except ratios)

 

    

For the Year Ended September 30,

   

For the Three

Months Ended

December 31,

    

1998

   

1999

   

2000

   

2001

   

2002

   

2002

Determination of earnings:

                                          

Income before taxes

   

$

80,752

   

$

113,870

   

$

159,700

   

$

200,657

   

$

572,047

   

$

153,287

Fixed charges (excludes capitalized interest)

   

 

63,804

   

 

50,844

   

 

47,753

   

 

55,169

   

 

160,627

   

 

39,403

    
  
  
  
  
  

Total earnings as defined

   

$

144,556

   

$

164,714

   

$

207,453

   

$

255,826

   

$

732,674

   

$

192,690

    
  
  
  
  
  

Fixed charges:

                                          

Interest expense

   

$

58,179

   

$

45,132

   

$

41,857

   

$

47,860

   

$

141,100

   

$

34,385

Estimated interest portion of rent expense

   

 

5,625

   

 

5,712

   

 

5,896

   

 

7,316

   

 

19,893

   

 

5,018

    
  
  
  
  
  

Total fixed charges

   

$

63,804

   

$

50,844

   

$

47,753

   

$

55,176

   

$

160,993

   

$

39,403

    
  
  
  
  
  

Ratio of earnings to fixed charges

   

 

2.3

   

 

3.2

   

 

4.3

   

 

4.6

   

 

4.6

   

 

4.9

    
  
  
  
  
  

 

The above ratios of earnings to fixed charges have been computed by dividing our earnings from continuing operations before taxes and fixed charges, by the fixed charges. For purposes of these ratios, fixed charges consist of interest, whether expensed or capitalized, amortization of deferred financing costs, distributions on preferred trust securities and the portion of rent expense representative of interest.