EX-12.1 9 h54273exv12w1.htm RATIO OF EARNINGS TO FIXED CHARGES exv12w1
 

Exhibit 12.1
SERVICE CORPORATION INTERNATIONAL
RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except ratio amounts)
                                         
    Year ended December 31,  
    2007     2006     2005     2004     2003  
Earnings:
                                        
Income (loss) from continuing operations before income taxes and cumulative effects of accounting changes
   $ 386,987     $ 97,449     $ 87,127     $ 109,318     $ 94,119  
 
                                        
Minority interest in (loss) income of majority owned subsidiaries with fixed charges
     —       295       (201 )     474       539  
Add: Fixed charges as adjusted (from below)
     155,643       129,794       121,464       138,983       160,120  
 
                              
 
     542,630     $ 227,538     $ 208,390     $ 248,775     $ 254,778  
 
                              
 
                                        
Fixed charges:
                                        
Interest expense:
                                        
Corporate
   $ 140,593     $ 107,071     $ 92,945     $ 109,246     $ 130,727  
Amortization of debt cost
     6,261       16,328       10,788       10,047       9,237  
1/3 of rental expense
     8,789       6,395       17,731       19,690       20,156  
 
                              
Fixed charges
     155,643       129,794       121,464       138,983       160,120  
Less: Capitalized interest
     —       —       —       —       —  
 
                              
Fixed charges as adjusted
   $ 155,643     $ 129,794     $ 121,464     $ 138,983     $ 160,120  
 
                              
 
                                        
Ratio (earnings divided by fixed charges)
     3.49       1.75       1.72       1.79       1.59