S-3: Registration statement for specified transactions by certain issuers
Published on October 25, 2004
Exhibit 12.1
Centene Corporation
Computation of ratio of earnings to fixed charges
($ in thousands)
|
Nine months ended September 30, 2004 |
Year ended December 31, |
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|
2003 |
2002 |
2001 |
2000 |
1999 |
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| Earnings: |
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| Pre-tax earnings (loss) from continuing operations |
$ | 51,304 | $ | 51,893 | $ | 41,136 | $ | 22,026 | $ | 7,185 | $ | (5,484 | ) | ||||||
| Addback: |
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| Fixed charges |
1,961 | 1,232 | 915 | 1,058 | 1,067 | 916 | |||||||||||||
| Total earnings |
$ | 53,265 | $ | 53,125 | $ | 42,051 | $ | 23,084 | $ | 8,252 | $ | (4,568 | ) | ||||||
| Fixed Charges: |
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| Interest expense |
$ | 317 | $ | 194 | $ | 45 | $ | 362 | $ | 611 | $ | 498 | |||||||
| Interest component of rental payments (1) |
1,644 | 1,038 | 870 | 696 | 456 | 418 | |||||||||||||
| Total fixed charges |
$ | 1,961 | $ | 1,232 | $ | 915 | $ | 1,058 | $ | 1,067 | $ | 916 | |||||||
| Ratio of earnings to fixed charges |
27.16 | 43.12 | 45.96 | 21.82 | 7.73 | (2 | ) | ||||||||||||
| (1) | Estimated at 33% of rental expense as a reasonable approximation of the interest factor. |
| (2) | Negative ratio. Coverage deficiency of $4,568. |