EX-12 11 exhibit_12-10k.htm EXHIBIT 12 Exhibit 12

Exhibit 12

 

 

 

HealthSouth Corporation and Subsidiaries

 

 

 

 

 

 

 

 

 

 

 

 

Computation of Ratio of Earnings to Fixed Charges

 

and Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

2006

 

2005

 

2004

 

2003

 

2002

COMPUTATION OF EARNINGS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pretax loss (income) from continuing operations before adjustments for minority interests in earnings of consolidated affiliates or equity in net income of nonconsolidated affiliates

$     (486.9)

 

$     (272.6)

 

$        47.8

 

$     (375.8)

 

$     (288.7)

 

 

 

 

 

 

 

 

 

 

Fixed Charges

357.3

 

337.5

 

309.8

 

269.3

 

251.0

 

 

 

 

 

 

 

 

 

 

Distributed income of equity investees

14.1

 

22.5

 

17.0

 

8.6

 

17.6

 

 

 

 

 

 

 

 

 

 

Interest Capitalized

–

 

–

 

(8.4)

 

(5.1)

 

(0.7)

 

 

 

 

 

 

 

 

 

 

Total Earnings

$     (115.5)

 

$        87.4

 

$      366.2

 

$     (103.0)

 

$       (20.8)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

COMPUTATION OF FIXED CHARGES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Expensed and Capitalized

$      335.1

 

$      337.5

 

$      309.8

 

$      269.3

 

$      251.0

 

 

 

 

 

 

 

 

 

 

Total Fixed Charges

335.1

 

337.5

 

309.8

 

269.3

 

251.0

 

 

 

 

 

 

 

 

 

 

Dividends on Convertible Perpetual Preferred Stock

22.2

 

–

 

–

 

–

 

–

 

 

 

 

 

 

 

 

 

 

Total Combined Fixed Charges and Preferred Stock Dividends

$      357.3

 

$      337.5

 

$      309.8

 

$      269.3

 

$      251.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES(1)

(0.34)

 

0.26

 

1.18

 

(0.38)

 

(0.08)

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO COMBINED FIXED

 

 

 

 

 

 

 

 

 

CHARGES AND PREFERRED STOCK DIVIDENDS(2)

(0.32)

 

0.26

 

1.18

 

(0.38)

 

(0.08)

 

 

 

 

 

 

 

 

 

 

(1) For the years ended December 31, 2006, 2005, 2003, and 2002, the Company had an earnings-to-fixed charges coverage deficiency of approximately $450.6 million, $250.1 million, $372.3 million, and $271.8 million, respectively.

 

(2) For the years ended December 31, 2006, 2005, 2003, and 2002, the Company had an earnings-to-combined fixed charges and preferred stock dividends coverage deficiency of approximately $472.8 million, $250.1 million, $372.3 million, and $271.8 million, respectively.