EX-12.1 6 c66070exv12w1.htm EX-12.1 exv12w1
EXHIBIT 12.1
EXPRESS SCRIPTS, INC.
Calculation of Ratio of Earnings to Fixed Charges
(Dollar amounts in millions)
                                                                         
    Three Months Ended     Nine Months Ended        
    September 30,     September 30,     Twelve Months Ended December 31,  
    2011     2010     2011     2010     2010     2009     2008     2007     2006  
Income from continuing operations before income taxes
  $ 516.7     $ 488.0     $ 1,560.3     $ 1,390.4     $ 1,908.7     $ 1,308.4     $ 1,207.4     $ 940.2     $ 738.3  
Add:
                                                                       
Interest expense
    94.3       42.2       184.3       127.0       167.1       194.4       77.6       108.4       95.7  
Estimated interest component of rental expense
    2.5       4.2       7.5       10.4       13.4       9.3       9.6       9.8       8.4  
Undistributed loss from joint venture
                                        0.3       1.3       1.6  
Income as adjusted
  $ 613.5     $ 534.4     $ 1,752.1     $ 1,527.8     $ 2,089.2     $ 1,512.1     $ 1,294.9     $ 1,059.7     $ 844.0  
Fixed charges:
                                                                       
Interest expense
    94.3       42.2       184.3       127.0       167.1       194.4       77.6       108.4       95.7  
Estimated interest component of rental expense
    2.5       4.2       7.5       10.4       13.4       9.3       9.6       9.8       8.4  
Total fixed charges
  $ 96.8     $ 46.4     $ 191.8     $ 137.4     $ 180.5     $ 203.7     $ 87.2     $ 118.2     $ 104.1  
 
                                                                       
Ratio of Earnings to Fixed Charges
    6.3       11.5       9.1       11.1       11.6       7.4       14.8       9.0       8.1  
Note: Interest component of rental expense estimated to be 1/3 of rental expense, which management believes represents a reasonable approximation of the interest factor.