EX-12.1 5 a2105666zex-12_1.htm EXHIBIT 12.1
QuickLinks -- Click here to rapidly navigate through this document


Exhibit 12.1


Health Net, Inc.

Calculation of Ratio of Earnings to Fixed Charges—Consolidated Basis

(amount in thousands, except ratios)

 
   Year Ended December 31,
  
 
   2002
   2001
   2000
   1999
   1998
  
Income from continuing operations   $ 356,495   $ 137,350   $ 262,747   $ 244,008   $ (254,154 )
Interest expense     40,226     54,940     87,930     83,808     92,159  
Amortization of debt expense     2,738     3,280     3,395     3,170     1,100  
Interest portion of rental expense(a)     7,903     8,403     7,470     7,350     7,545  
   
 
 
 
 
 
Earnings   $ 407,362   $ 203,973   $ 361,542   $ 338,336   $ (153,350 )
Fixed Charges
(Total of interest expense, amort. and interest portion of rental expense)		   $ 50,867   $ 66,623   $ 98,795   $ 94,328   $ 100,804  

Ratio of earnings to fixed charges
 
 
8.0
x
 
3.1
x
 
3.7
x
 
3.6
x
 
(b
)
(a)
Interest portion of rental expense is estimated to be 15%.

(b)
No ratio is shown for 1998 because earnings were insufficient to cover fixed charges by $153.4 million.


QuickLinks