EX-12.1 3 moh-12312017xex121.htm EXHIBIT 12.1 Exhibit

EXHIBIT 12.1


MOLINA HEALTHCARE, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 
Year Ended December 31,
 
2017
 
2016
 
2015
 
2014
 
2013
 
(Dollars in millions)
Earnings:
 
 
 
 
 
 
 
 
 
(Loss) income before income taxes, continuing operations
$
(612
)
 
$
205

 
$
322

 
$
135

 
$
81

Add fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense, including amortization of debt discount
118

 
101

 
66

 
57

 
52

Estimated interest portion of rental expense
11

 
12

 
8

 
5

 
4

Total fixed charges
129

 
113

 
74

 
62

 
56

Total earnings available for fixed charges
$
(483
)
 
$
318

 
$
396

 
$
197

 
$
137

 
 
 
 
 
 
 
 
 
 
Fixed charges from above:
$
129

 
$
113

 
$
74

 
$
62

 
$
56

 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges (1)
—

 
2.8

 
5.4

 
3.2

 
2.4

 
 
 
 
 
 
 
 
 
 
Total rent expense
$
75

 
$
64

 
$
44

 
$
32

 
$
25

Interest factor
14
%
 
18
%
 
18
%
 
16
%
 
16
%
Interest component of rental expense
$
11

 
$
12

 
$
8

 
$
5

 
$
4

_______________________________
(1)
Earnings were inadequate to cover fixed charges by $612 million for the year ended December 31, 2017.