EX-12.1 3 dgx2016s-3asrexhibit121.htm EXHIBIT 12.1 SEC Exhibit





Exhibit 12.1
QUEST DIAGNOSTICS INCORPORATED
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN MILLIONS, EXCEPT RATIOS)

 
FOR THE THREE MONTHS ENDED MARCH 31, 2016
 
YEAR ENDED DECEMBER 31,
 
2015
 
2014
 
2013
 
2012
 
2011
Income from continuing operations before taxes, equity earnings and net income attributable to non-controlling interests........................................................
$
172
 
 
$
1,103
 
 
$
823
 
 
$
1,324
 
 
$
1,042
 
 
$
820
 
Adjustments:
 
 
 
 
 
 
 
 
 
 
 
Capitalized interest........................................
 
__

 
 
(1
)
 
 
(3
)
 
 
(1
)
 
 
__

 
 
__

Distributed income from less than 50% owned companies........................................
 
8

 
 
18

 
 
24

 
 
25

 
 
25

 
 
29

Fixed charges.......................................................
 
54

 
 
229

 
 
249

 
 
237

 
 
239

 
 
245

Earnings from continuing operations before taxes and fixed charges, as adjusted..........................................................
$
234
 
 
$
1,349
 
 
$
1,093
 
 
$
1,585
 
 
$
1,306
 
 
$
1,094
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
Interest expense.......................................................
$
36
 
 
$
155
 
 
$
169
 
 
$
163
 
 
$
169
 
 
$
173
 
Portion of rent expense which represents interest factor............................................................
 
18

 
 
74

 
 
80

 
 
74

 
 
70

 
 
72

Total fixed charges.........................................................
$
54
 
 
$
229
 
 
$
249
 
 
$
237
 
 
$
239
 
 
$
245
 
Ratio of earnings to fixed charges..........................................................
4.3x
 
5.9x
 
4.4x
 
6.7x
 
5.5x
 
4.5x