Exhibit 12.1

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

For The
Three Months
Ended
March 31,

  

Year Ended December 31,
 

2007

  

2006

  

2005

  

2004

  

2003

  

2002

Income from continuing operations before taxes, equity earnings and minority share of income

  

 

$

 

176,273

    

 

$

 

1,028,161

    

 

$

 

941,498

    

 

$

 

822,880

    

 

$

 

725,920

    

 

$

 

531,469

  

Adjustments:

 

 

 

 

 

 

 

 

 

 

 

 

Distributed income from less than 50% owned companies

  

 

  

5,300

    

 

  

26,411

    

 

  

25,492

    

 

  

21,973

    

 

  

13,881

    

 

  

17,034

  

Fixed charges

  

 

  

41,428

    

 

  

147,133

    

 

  

108,751

    

 

  

103,725

    

 

  

100,312

    

 

  

88,997

  

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings from continuing operations before taxes and fixed charges, as adjusted

  

 

$

 

223,001

    

 

$

 

1,201,705

    

 

$

 

1,075,741

    

 

$

 

948,578

    

 

$

 

840,113

    

 

$

 

637,500

  

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

  

 

$

 

28,168

    

 

$

 

96,997

    

 

$

 

63,266

    

 

$

 

60,464

    

 

$

 

61,064

    

 

$

 

57,707

  

Portion of rent expense which represents interest factor

  

 

  

13,260

    

 

  

50,136

    

 

  

45,485

    

 

  

43,261

    

 

  

39,248

    

 

  

31,290

  

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

  

 

$

 

41,428

    

 

$

 

147,133

    

 

$

 

108,751

    

 

$

 

103,725

    

 

$

 

100,312

    

 

$

 

88,997

  

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

  

 

  

5.4x

    

 

  

8.2x

    

 

  

9.9x

    

 

  

9.2x

    

 

  

8.4x

    

 

  

7.2x