Exhibit 12.1
QUEST DIAGNOSTICS INCORPORATED
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSANDS, EXCEPT RATIOS)
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FOR THE NINE MONTHS ENDED |
YEAR
ENDED DECEMBER 31, |
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SEPTEMBER 30, 2005 |
2004 |
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2003 |
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2002 |
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2001 |
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2000 |
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| Income before taxes, equity earnings and minority share of income |
$ | 689,838 | $ | 833,120 | $ | 737,555 | $ | 539,177 | $ | 330,720 | $ | 204,002 | ||||||||
Adjustments: |
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| Distributed income from less than 50% owned companies |
18,263 | 21,973 | 13,881 | 17,034 | 3,620 | 2,952 | ||||||||||||||
| Fixed charges | 74,522 | 104,316 | 100,911 | 89,567 | 105,154 | 145,721 | ||||||||||||||
| Earnings before taxes and fixed charges, as adjusted |
$ | 782,623 | $ | 959,409 | $ | 852,347 | $ | 645,778 | $ | 439,494 | $ | 352,675 | ||||||||
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Fixed charges: |
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| Interest expense | $ | 40,644 | $ | 60,464 | $ | 61,064 | $ | 57,707 | $ | 77,840 | $ | 120,471 | ||||||||
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Portion of rent expense which represents interest factor |
33,878 | 43,852 | 39,847 | 31,860 | 27,314 | 25,250 | ||||||||||||||
Total fixed charges |
$ | 74,522 | $ | 104,316 | $ | 100,911 | $ | 89,567 | $ | 105,154 | $ | 145,721 | ||||||||
Ratio of earnings to fixed charges |
10.5x | 9.2x | 8.4x | 7.2x | 4.2x | 2.4x | ||||||||||||||