EX-12.1 5 a2117589zex-12_1.htm EXHIBIT 12.1
QuickLinks -- Click here to rapidly navigate through this document

Exhibit 12.1

Lincare Holdings Inc.
Computation of Ratio of Earnings to Fixed Charges
(In thousands, except ratios)

				For the Years Ended December 31,
		For the Six Months Ended June 30, 2003		For the Years Ended December 31,
		For the Six Months Ended June 30, 2003		2002		2001		2000		1999		1998
EARNINGS AVAILABLE TO COVER FIXED CHARGES:
Income (loss) from continuing operations before income taxes		$	175,290	$	305,662	$	218,004	$	188,802	$	162,747	$	138,260
Add:
	Fixed charges deducted from earnings (see below)		15,098		28,357		29,325		29,935		15,881		8,834

Earnings available to cover fixed charges		$	190,388	$	334,019	$	247,329	$	218,737	$	178,628	$	147,094

FIXED CHARGES:
Interest expense, including amounts in operating expense		$	7,593	$	14,165	$	16,013	$	18,019	$	5,940	$	1,177
Amortized indebtedness			219		566		881		811		294		162
Interest within rent expense			7,286		13,626		12,431		11,105		9,647		7,495

Fixed charges		$	15,098	$	28,357	$	29,325	$	29,935	$	15,881	$	8,834

RATIO OF EARNINGS TO FIXED CHARGES (A)			12.6x		11.8x		8.4x		7.3x		11.2x		16.7x

(A): The ratio of earnings to fixed charges represents the number of times "fixed charges" are covered by "earnings." "Fixed charges" consist of interest on outstanding debt and amortization of debt discount and expense, adjusted for capitalized interest and 40% (the proportion deemed representative of the interest factor) of operating lease expense. "Earnings" consist of consolidated net income from continuing operations before income taxes and fixed charges.