EX-12 6 a2218369zex-12.htm EX-12
QuickLinks -- Click here to rapidly navigate through this document


Exhibit 12

Select Medical Holdings Corporation
Ratio of Earnings to Fixed Charges
(unaudited)

 
   For the Year Ended December 31,  
 
   2009   2010   2011   2012   2013  
 
   (in thousands)
  

Pre-tax income from operations before adjustments for non-controlling interests in consolidated subsidiaries or earnings (loss) from equity investees

   $ 116,404   $ 124,432   $ 180,807   $ 235,845   $ 195,325  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Fixed charges:

                                

Interest expense and amortization of debt discount and premium on all indebtedness

     132,469     112,337     99,216     94,950     87,364  

Capitalized interest

     427     767     304     153     242  

Rentals:

                                

Buildings — 33%(A)

     38,644     39,033     39,070     40,973     40,815  

Office and other equipment — 33%(A)

     9,309     12,038     15,010     14,577     13,513  

Preferred stock dividend requirements of consolidated subsidiaries

     29,273     —     —     —     —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total fixed charges

   $ 210,121   $ 164,175   $ 153,600   $ 150,653   $ 141,934  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Pre-tax income from operations before adjustment for non-controlling interests in consolidated subsidiaries or earnings (loss) from equity investees plus fixed charges, less preferred stock dividend requirements of consolidated subsidiaries less capitalized interest

   $ 326,098   $ 287,840   $ 334,103   $ 386,345   $ 337,017  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Ratio of earnings to fixed charges

     1.55     1.75     2.18     2.56     2.37  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       
(A)
The Company uses 33% to estimate the interest on its rentals. This percentage is a reasonable approximation of the interest factor.


Select Medical Corporation
Ratio of Earnings to Fixed Charges
(unaudited)

 
   For the Year Ended December 31,  
 
   2009   2010   2011   2012   2013  
 
   (dollars in thousands)
  

Pre-tax income from operations before adjustments for non-controlling interests in consolidated subsidiaries or earnings (loss) from equity investees

   $ 152,037   $ 152,297   $ 209,424   $ 247,036   $ 198,694  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Fixed charges:

                                

Interest expense and amortization of debt discount and premium on all indebtedness

     99,543     84,472     81,232     83,759     84,954  

Capitalized interest

     427     767     304     153     242  

Rentals:

                                

Buildings — 33%(A)

     38,644     39,033     39,070     40,973     40,815  

Office and other equipment — 33%(A)

     9,309     12,038     15,010     14,577     13,513  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total fixed charges

   $ 147,922   $ 136,310   $ 135,616   $ 139,462   $ 139,524  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Pre-tax income from operations before adjustment for non-controlling interests in consolidated subsidiaries or earnings (loss) from equity investees plus fixed charges, less preferred stock dividend requirements of consolidated subsidiaries less capitalized interest

   $ 299,532   $ 287,840   $ 344,736   $ 386,345   $ 337,976  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Ratio of earnings to fixed charges

     2.02     2.11     2.54     2.77     2.42  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       
(A)
The Company uses 33% to estimate the interest on its rentals. This percentage is a reasonable approximation of the interest factor.



QuickLinks

Select Medical Holdings Corporation Ratio of Earnings to Fixed Charges (unaudited)
Select Medical Corporation Ratio of Earnings to Fixed Charges (unaudited)