EX-12.1 5 dex121.htm COMPUTATION OF RATIO OF EARNINGS Computation of Ratio of Earnings

EXHIBIT 12.1

Lincare Holdings Inc.

Computation of Ratio of Earnings to Fixed Charges

(In thousands, except ratios)

 

    FOR THE YEAR ENDED
DECEMBER 31,
    2009   2008   2007   2006   2005
        (As adjusted) (1)   (As adjusted) (1)        

EARNINGS AVAILABLE TO COVER FIXED CHARGES:

         

Income (loss) from continuing operations before income taxes and minority interests

  $ 223,387   $ 365,544   $ 358,155   $ 339,843   $ 343,066

Add:

         

Fixed charges deducted from earnings (see below)

    55,942     60,457     49,747     29,007     29,721
                             

Earnings available to cover fixed charges

  $ 279,329   $ 426,001   $ 407,902   $ 368,850   $ 372,787
                             

FIXED CHARGES:

         

Interest expense, including amounts in operating expense

  $ 15,945   $ 21,185   $ 20,837   $ 8,982   $ 11,694

Amortized indebtedness

    1,769     2,377     5,646     953     738

Amortization of discount on bonds payable

    17,246     16,082     2,573     0     0

Interest within rent expense

    20,982     20,813     20,691     19,072     17,289
                             

Fixed charges

  $ 55,942   $ 60,457   $ 49,747   $ 29,007   $ 29,721
                             

RATIO OF EARNINGS TO FIXED CHARGES

    4.99     7.05     8.20     12.72     12.54
                             

 

1) As adjusted for adoption of FASB ASC 470-20. See Note 1 of the Consolidated Financial Statements for additional information.