EX-12.1 8 exhibit121.htm RATIO OF EARNINGS TO FIXED CHARGES exhibit121.htm
Exhibit 12.1
 
Centene Corporation
                             
Computation of ratio of earnings to fixed charges
                             
($ in thousands)
                             
   
Year Ended December 31,
 
   
2010
   
2009
   
2008
   
2007
   
2006
 
Earnings:
                             
Pre-tax earnings from continuing operations
  $ 154,282     $ 137,508     $ 136,616     $ 64,071     $ 27,165  
Addback:
                                       
Fixed charges
    26,141       23,104       23,128       20,612       13,909  
Subtract:
                                       
Non-controlling interest
    (3,435 )     (2,574 )     -       -       -  
Interest capitalized
    (1,089 )     (116 )     -       -       -  
   Total earnings
  $ 175,899     $ 157,922     $ 159,744     $ 84,683     $ 41,074  
                                         
Fixed Charges:
                                       
Interest expensed and capitalized
  $ 19,081     $ 16,434     $ 16,673     $ 15,626     $ 10,574  
Interest component of rental payments (1)
    7,060       6,670       6,455       4,986       3,335  
   Total fixed charges
  $ 26,141     $ 23,104     $ 23,128     $ 20,612     $ 13,909  
                                         
Ratio of earnings to fixed charges
    6.73       6.84       6.91       4.11       2.95  
                                         
(1) Estimated at 33% of rental expense as a reasonable approximation of the interest factor.