EX-99.4 6 h18131exv99w4.htm RATIO OF EARNINGS TO FIXED CHARGES exv99w4
 

Exhibit 99.4

SERVICE CORPORATION INTERNATIONAL
RATIO OF EARNINGS TO FIXED CHARGES

(In thousands, except ratio amounts)

                 
    Twelve months
    ended December 31,
    2003
   2002
            (Restated)
            note 2
Earnings:
                
Income (loss) from continuing operations before income taxes and cumulative effects of accounting changes
   $ 111,219     $ (119,850 )
Undistributed income of less than 50% owned equity investees
     —       —  
Minority interest in income of majority owned subsidiaries with fixed charges
     715       706  
Add: fixed charges as adjusted (from below)
     162,349       180,589  
 
    
 		      
 		  
 
   $ 274,283     $ 61,445  
 
    
 		      
 		  
Fixed charges:
                
Interest expense:
                
Corporate
   $ 133,498     $ 153,770  
Amortization of debt cost
     9,237       7,102  
1/3 of rental expense
     19,614       19,717  
 
    
 		      
 		  
Fixed charges
     162,349       180,589  
Less: Capitalized interest
     —       —  
 
    
 		      
 		  
Fixed charges as adjusted
   $ 162,349     $ 180,589  
 
    
 		      
 		  
Ratio (earnings divided by fixed charges)
     1.69       A  
 
    
 		      
 		  

A.   During the year ended December 31, 2002, the ratio coverage was less than 1:1. In order to achieve a coverage of 1:1, the Company would have had to generate additional income from continuing operations before income taxes and cumulative effects of accounting changes of $119,144 for the year ended December 31, 2002.

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