EX-99.3 4 h18130exv99w3.htm RATIO OF EARNINGS TO FIXED CHARGES exv99w3
 

Exhibit 99.3

SERVICE CORPORATION INTERNATIONAL
RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except ratio amounts)

                 
    Three Months Ended March 31,
    2004
   2003
Earnings:
                
Income from continuing operations before income taxes and cumulative effects of accounting changes
   $ 71,445     $ 70,112  
Minority interest in income of majority owned subsidiaries that have not incurred fixed charges
     148       141  
Add fixed charges as adjusted (from below)
     39,018       42,300  
 
    
 		      
 		  
 
   $ 110,611     $ 112,553  
 
    
 		      
 		  
Fixed charges:
                
Interest expense:
                
Corporate
   $ 31,385     $ 35,016  
Amortization of debt costs
     2,413       2,354  
1/3 of rental expense
     5,220       4,930  
 
    
 		      
 		  
Fixed charges
     39,018       42,300  
Less: Capitalized interest
     —       —  
 
    
 		      
 		  
Fixed charges as adjusted
   $ 39,018     $ 42,300  
 
    
 		      
 		  
Ratio (earnings divided by fixed charges)
     2.83       2.66