EX-12.1 4 c50534exv12w1.htm EX-12.1 EX-12.1
Exhibit 12.1
Express Scripts, Inc.
Calculation of Ratio of Earnings to Fixed Charges

(Dollar amounts in millions)
                                                 
    Three Months        
    ended March 31,     Year Ended December 31,  
    2009     2008     2007     2006     2005     2004  
Income from continuing operations before income taxes
  $ 339.3     $ 1,213.6     $ 944.7     $ 742.2     $ 613.9     $ 450.6  
Add:
                                               
Undistributed loss from joint venture
          0.3       1.3       1.6       2.4       4.5  
Interest expense
    17.1       77.6       108.4       95.7       37.2       41.7  
Estimated interest component of rental expense
    2.2       10.3       10.5       9.1       8.1       7.4  
 
                                   
Income as adjusted
  $ 358.6     $ 1,301.8     $ 1,064.9     $ 848.6     $ 661.6     $ 504.2  
Fixed charges:
                                               
Interest expense
    17.1       77.6       108.4       95.7       37.2       41.7  
Estimated interest component of rental expense
    2.2       10.3       10.5       9.1       8.1       7.4  
 
                                   
Total fixed charges
  $ 19.3     $ 87.9     $ 118.9     $ 104.8     $ 45.3     $ 49.1  
 
                                   
 
                                               
Ratio of Earnings to Fixed Charges
    18.6 x     14.8 x     9.0 x     8.1 x     14.6 x     10.3 x
 
                                   
Note: Interest component of rental expense estimated to be 1/3 of rental expense