EX-12.1 3 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)
                         
   
For The Three
Months Ended
 
Year Ended December 31,
 
   
March 31, 2011
 
2010
 
2009
 
2008
 
2007
 
2006
 
Earnings:
                         
Pre-tax earnings from continuing operations
  $ 37,151   $ 154,282   $ 137,508   $ 136,616   $ 64,071   $ 27,165  
Addback:
                                     
Fixed charges
    7,405     26,141     23,104     23,128     20,612     13,909  
Subtract:
                                     
Non-controlling interest
    922     (3,435 )   (2,574 )   -     -     -  
Interest capitalized
    -     (1,089 )   (116 )   -     -     -  
   Total earnings
  $ 45,478   $ 175,899   $ 157,922   $ 159,744   $ 84,683   $ 41,074  
                                       
Fixed Charges:
                                     
Interest expensed and capitalized
  $ 5,695   $ 19,081   $ 16,434   $ 16,673   $ 15,626   $ 10,574  
Interest component of rental payments (1)
    1,710     7,060     6,670     6,455     4,986     3,335  
   Total fixed charges
  $ 7,405   $ 26,141   $ 23,104   $ 23,128   $ 20,612   $ 13,909  
                                       
Ratio of earnings to fixed charges
    6.14     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.