EX-12.1 2 dva-ex121_6.htm EX-12.1 dva-ex121_6.htm

Exhibit 12.1

DAVITA HEALTHCARE PARTNERS INC.

RATIO OF EARNINGS TO FIXED CHARGES

The ratio of earnings to fixed charges is computed by dividing earnings by fixed charges. Earnings for this purpose are defined as pretax income from continuing operations adjusted by adding back fixed charges expensed during the period less noncontrolling interests. Fixed charges include debt expense (interest expense and the amortization of deferred financing costs), the estimated interest component of rent expense on operating leases, and capitalized interest.

 

 

 

Year ended December 31,

 

 

 

2015

 

 

2014

 

 

2013

 

 

2012

 

 

2011

 

 

 

(in thousands, except share data)

 

Earnings adjusted for fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income taxes

 

$

723,136

 

 

$

1,309,673

 

 

$

1,124,978

 

 

$

1,001,304

 

 

$

916,605

 

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt expense

 

 

408,380

 

 

 

410,294

 

 

 

429,943

 

 

 

288,554

 

 

 

241,090

 

Interest portion of rent expense

 

 

166,821

 

 

 

149,432

 

 

 

137,558

 

 

 

112,424

 

 

 

95,919

 

Less: Noncontrolling interests

 

 

(158,304

)

 

 

(140,949

)

 

 

(124,276

)

 

 

(105,891

)

 

 

(95,899

)

 

 

 

416,897

 

 

 

418,777

 

 

 

443,225

 

 

 

295,087

 

 

 

241,110

 

 

 

$

1,140,033

 

 

$

1,728,450

 

 

$

1,568,203

 

 

$

1,296,391

 

 

$

1,157,715

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debt expense

 

 

408,380

 

 

 

410,294

 

 

 

429,943

 

 

 

288,554

 

 

 

241,090

 

Interest portion of rent expense

 

 

166,821

 

 

 

149,432

 

 

 

137,558

 

 

 

112,424

 

 

 

95,919

 

Capitalized interest

 

 

9,723

 

 

 

7,888

 

 

 

6,408

 

 

 

8,127

 

 

 

4,887

 

 

 

$

584,924

 

 

$

567,614

 

 

$

573,909

 

 

$

409,105

 

 

$

341,896

 

Ratio of earnings to fixed charges

 

 

1.95

 

 

 

3.05

 

 

 

2.73

 

 

 

3.17

 

 

 

3.39