EX-12.1 5 h65877exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
SERVICE CORPORATION INTERNATIONAL
RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except ratio amounts)
                                         
    Year ended December 31,  
    2008     2007     2006     2005     2004  
Earnings:
                                        
Income from continuing operations before income taxes and cumulative effects of accounting changes
   $ 163,162     $ 386,987     $ 97,449     $ 87,127     $ 109,318  
Minority interest in (loss) income of majority owned subsidiaries with fixed charges
     —       —       295       (201 )     474  
Add: Fixed charges as adjusted (from below)
     141,924       155,643       129,794       121,464       138,983  
 
                              
 
     305,086       542,630     $ 227,538     $ 208,390     $ 248,775  
 
                              
 
                                        
Fixed charges:
                                        
Interest expense:
                                        
Corporate
   $ 130,701     $ 140,593     $ 107,071     $ 92,945     $ 109,246  
Amortization of loan cost
     3,573       6,261       16,328       10,788       10,047  
1/3 of rental expense
     7,650       8,789       6,395       17,731       19,690  
 
                              
Fixed charges
     141,924       155,643       129,794       121,464       138,983  
Less: Capitalized interest
     —       —       —       —       —  
 
                              
Fixed charges as adjusted
   $ 141,924     $ 155,643     $ 129,794     $ 121,464     $ 138,983  
 
                              
 
                                        
Ratio (earnings divided by fixed charges)
     2.15       3.49       1.75       1.72       1.79