EX-12.1 2 v226135_ex12-1.htm
Exhibit 12.1
 
HISTORICAL AND PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES
 
The following table shows Independence Holding Company’s historical ratio of earnings to fixed charges for the three months ended March 31, 2011 and for the two fiscal years ended December 31, 2010 and 2009, and the pro forma ratio of earnings to fixed charges for the three months ended March 31, 2011 and for the fiscal year ended December 31, 2010.

   
Actual
    
Pro Forma
  
   
Three
Months
Ended
March 31,
    
Years Ended
December 31,
    
Three
Months
Ended
March 31,
    
Year 
Ended
December
31,
  
   
2011
    
2010
    
2009
    
2011
    
2010
  
   
(In thousands, except ratio of earnings to fixed charges)
  
                               
Fixed charges:
                              
Interest expense
   $ 457     $ 1,912     $ 2,817     $ 457     $ 1,912  
                                         
Pre-tax income from continuing operations
     1,936       36,252       (18,102 )     1,936       37,117  
Exclude equity method income
                                        
AMIC
     -       (280 )     (1,289 )     -       -  
Investment partnerships
     (532 )     (684 )     (1,344 )     (532 )     (684 )
Operating partnerships
     (542 )     (694 )     (726 )     (542 )     (694 )
                                         
Add back fixed charges:
                                        
Interest expense
     457       1,912       2,817       457       1,912  
                                         
Less noncontrolling interests
     (616 )     (1,676 )     10       (375 )     (1,358 )
                                         
    $ 703     $ 34,830     $ (18,634 )   $ 944     $ 36,293  
                                         
Ratio of earnings to fixed charges
     1.54 x     18.22 x     (6.61 )x   $ 2.07x     $ 18.98x