EX-12.1 4 moh-12312012x10kex121.htm EX-12.1 MOH-12.31.2012-10K Ex12.1

EXHIBIT 12.1

LIST OF SUBSIDIARIES



+
Wholly owned subsidiary of Molina Healthcare of New Mexico, Inc.




Molina Healthcare, Inc.

Computation of Ratio of Earnings to Fixed Charges

 
Year Ended December 31,
 
2012
 
2011
 
2010
 
2009
 
2008
 
(Dollars in Thousands)
Earnings:
 
 
 
 
 
 
 
 
 
Income before income taxes
$
19,065

 
$
64,654

 
$
89,492

 
$
38,157

 
$
94,324

Add fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense, including amortization of debt discount and expense
16,769

 
15,519

 
15,509

 
13,777

 
13,231

Estimated interest portion of rental expense
2,865

 
2,542

 
4,522

 
5,181

 
4,370

Total fixed charges
19,634

 
18,061

 
20,031

 
18,958

 
17,601

Total earnings available for fixed charges
$
38,699

 
$
82,715

 
$
109,523

 
$
57,115

 
$
111,925

 
 
 
 
 
 
 
 
 
 
Fixed charges from above:
$
19,634

 
$
18,061

 
$
20,031

 
$
18,958

 
$
17,601

 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
2.0

 
4.6

 
5.5

 
3.0

 
6.4

 
 
 
 
 
 
 
 
 
 
Total rent expense
$
20,462

 
$
23,110

 
$
25,124

 
$
20,723

 
$
17,481

Interest factor
14
%
 
11
%
 
18
%
 
25
%
 
25
%
Interest component of rental expense
$
2,865

 
$
2,542

 
$
4,522

 
$
5,181

 
$
4,370