EX-12.1 2 h87288ex12-1.txt RATIO OF EARNINGS TO FIXED CHARGES 1 EXHIBIT 12.1 SERVICE CORPORATION INTERNATIONAL RATIO OF EARNINGS TO FIXED CHARGES
Three Months Ended March 31, 2001 2000 ------------------------------------------------------------------------------------------------------------------------- (Thousands, except ratio amounts) Pretax income from continuing operations.............................................. $ 10,034 $ 31,209 Undistributed income of less than 50% owned equity investees.......................... (857) (716) Minority interest in income of majority owned subsidiaries with fixed charges................................................................... 183 207 Add fixed charges as adjusted (from below)............................................ 68,481 80,364 ------------- ------------- $ 77,841 $ 111,064 ------------- ------------- Fixed charges: Interest expense: Corporate ................................................................ $ 59,294 $ 67,829 Financial services........................................................... - 3,384 Capitalized ................................................................ - (1) Amortization of debt costs................................................... 1,512 1,720 1/3 of rental expense................................................................ 7,675 7,431 ------------- ------------- Fixed charges ........................................................................ 68,481 80,363 Less: Capitalized interest......................................................... - 1 ------------- ------------- Fixed charges as adjusted............................................................. $ 68,481 $ 80,364 ============= ============= Ratio (earnings divided by fixed charges)............................................. 1.14 1.38 ============= ============= Excluding restructuring and non-recurring charges, the ratio of earnings to fixed charges would have been 1.50 for the three months ended March 31, 2001.