Attached files
| file | filename |
|---|---|
| 10-K - 10-K - MOLINA HEALTHCARE, INC. | a55407e10vk.htm |
| EX-23.1 - EX-23.1 - MOLINA HEALTHCARE, INC. | a55407exv23w1.htm |
| EX-32.1 - EX-32.1 - MOLINA HEALTHCARE, INC. | a55407exv32w1.htm |
| EX-31.2 - EX-31.2 - MOLINA HEALTHCARE, INC. | a55407exv31w2.htm |
| EX-31.1 - EX-31.1 - MOLINA HEALTHCARE, INC. | a55407exv31w1.htm |
| EX-32.2 - EX-32.2 - MOLINA HEALTHCARE, INC. | a55407exv32w2.htm |
| EX-21.1 - EX-21.1 - MOLINA HEALTHCARE, INC. | a55407exv21w1.htm |
| EX-10.24 - EX-10.24 - MOLINA HEALTHCARE, INC. | a55407exv10w24.htm |
| EX-10.25 - EX-10.25 - MOLINA HEALTHCARE, INC. | a55407exv10w25.htm |
| EX-10.22 - EX-10.22 - MOLINA HEALTHCARE, INC. | a55407exv10w22.htm |
Exhibit 12.1
Molina
Healthcare, Inc.
Computation
of Ratio of Earnings to Fixed Charges
| Year Ended December 31, | ||||||||||||||||||||
| 2009 | 2008(1) | 2007(1) | 2006 | 2005 | ||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||
|
Earnings:
|
||||||||||||||||||||
|
Income before income taxes
|
$ | 43,616 | $ | 99,374 | $ | 92,722 | $ | 73,458 | $ | 43,851 | ||||||||||
|
Add fixed charges:
|
||||||||||||||||||||
|
Interest expense, including amortization of debt discount and exp
|
13,777 | 13,231 | 5,605 | 2,353 | 1,529 | |||||||||||||||
|
Estimated interest portion of rental expense
|
5,181 | 4,370 | 3,988 | 2,682 | 2,852 | |||||||||||||||
|
Total fixed charges
|
18,958 | 17,601 | 9,593 | 5,035 | 4,381 | |||||||||||||||
|
Total earnings available for fixed charges
|
$ | 62,574 | $ | 116,975 | $ | 102,315 | $ | 78,493 | $ | 48,232 | ||||||||||
|
Fixed Charges from above
|
$ | 18,958 | $ | 17,601 | $ | 9,593 | $ | 5,035 | $ | 4,381 | ||||||||||
|
Ratio of Earnings to Fixed Charges
|
3.3 | 6.6 | 10.7 | 15.6 | 11.0 | |||||||||||||||
|
Total rent expense
|
$ | 20,723 | $ | 17,481 | $ | 18,127 | $ | 12,193 | $ | 9,505 | ||||||||||
|
Interest factor
|
25 | % | 25 | % | 22 | % | 22 | % | 30 | % | ||||||||||
|
Interest component of rental expense
|
$ | 5,181 | $ | 4,370 | $ | 3,988 | $ | 2,682 | $ | 2,852 | ||||||||||
| (1) | The Registrant’s condensed statements of income for the years ended December 31, 2008 and 2007 have been recast to reflect the adoption of FASB ASC Subtopic 470-20, Debt with Conversion and Other Options (see Note 1 of the notes to consolidated financial statements). |