EX-12.1 5 c54821exv12w1.htm EX-12.1 exv12w1
EXHIBIT 12.1
EXPRESS SCRIPTS, INC.
Calculation of Ratio of Earnings to Fixed Charges
(Dollar amounts in millions)
                                         
    Year Ended December 31,
    2009   2008   2007   2006   2005
Income from continuing operations before income taxes
  $ 1,309.3     $ 1,213.6     $ 944.7     $ 742.2     $ 613.9  
Add:
                                       
Undistributed loss from joint venture
          0.3       1.3       1.6       2.4  
Interest expense
    194.4       77.6       108.4       95.7       37.2  
Estimated interest component of rental expense
    9.9       10.3       10.5       9.1       8.1  
Income as adjusted
  $ 1,513.6     $ 1,301.8     $ 1,064.9     $ 848.6     $ 661.6  
Fixed charges:
                                       
Interest expense
    194.4       77.6       108.4       95.7       37.2  
Estimated interest component of rental expense
    9.9       10.3       10.5       9.1       8.1  
Total fixed charges
  $ 204.3     $ 87.9     $ 118.9     $ 104.8     $ 45.3  
 
                                       
Ratio of Earnings to Fixed Charges
    7.4       14.8       9.0       8.1       14.6  
Note: Interest component of rental expense estimated to be 1/3 of rental expense