EX-12 3 exhibit12.htm VANGUARD HEALTH SYSTEMS, INC.

EXHIBIT 12

VANGUARD HEALTH SYSTEMS, INC.
Computation of Ratio of Earnings to Fixed Charges (dollars in thousands)

 

 

For the Year Ended June 30,

 

 

Six Months
Ended
December
31,

 

 

Pro Forma
Year Ended
June 30,

 

 

Pro Forma
Six
Months
Ended
December
31,

 

 

 

 

 

1998

 

 

1999

 

 

2000

 

 

2001

 

 

2001

 

 

2001

 

 

2001

 

 

Income (loss) from continuing operations
      before income taxes

 

$

(2,713

)

 

$

(6,421

)

 

$

(181

)

 

$

10,671

 

$

5,051

 

 

$

(5,141

)

 

$

3,765

 

Equity method (income) loss

 

 

68

 

 

 

(240

)

 

 

74

 

 

 

(165

)

 

(302

)

 

 

(165

)

 

 

(302

)

Portion of rents representative
      of interest

 

 

105

 

 

 

560

 

 

 

1,709

 

 

 

3,058

 

1,668

 

 

 

3,622

 

 

 

1,668

 

Interest, including amortization
      of debt issuance expense

 

 

330

 

 

 

4,395

 

 

 

9,235

 

 

 

17,491

 

15,161

 

 

 

31,111

 

 

 

16,447

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

            Earnings

 

$

(2,210

)

 

$

(1,706

)

 

$

10,837

 

 

$

31,055

 

$

21,578

 

 

$

29,427

 

 

$

21,578

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Portion of rents representative
      of interest

 

 

105

 

 

 

560

 

 

 

1,709

 

 

 

3,058

 

1,668

 

 

 

3,622

 

 

 

1,668

 

Interest including amortization
      of debt issuance expense

 

 

330

 

 

 

4,395

 

 

 

9,235

 

 

 

17,491

 

15,161

 

 

 

31,111

 

 

 

16,447

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

            Fixed Charges

 

$

435

 

 

$

4,955

 

 

$

10,944

 

 

$

20,549

 

$

16,829

 

 

$

34,733

 

 

$

18,115

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

            Ratio of earnings to fixed charges

 

 

―

 

 

 

―

 

 

 

―

 

 

 

1.51

 

1.28

 

 

 

―

 

 

 

1.19

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount by which earnings are
      inadequate to cover fixed charges

 

$

2,645

 

 

$

6,661

 

 

$

107

 

 

$

―

 

$

―

 

 

$

5,306

 

 

$

―