Attached files
Exhibit 12.1
Vanguard Health Systems, Inc.
Computation of Ratios of Earnings to Fixed Charges
(unaudited)
(dollars in millions)
Computation of Ratios of Earnings to Fixed Charges
(unaudited)
(dollars in millions)
| Year | Year | Year | Year | Year | ||||||||||||||||
| ended | ended | ended | ended | ended | ||||||||||||||||
| June 30, | June 30, | June 30, | June 30, | June 30, | ||||||||||||||||
| 2007 | 2008 | 2009 | 2010 | 2011 | ||||||||||||||||
EARNINGS: |
||||||||||||||||||||
Income (loss) from continuing operations before
income taxes |
$ | (122.5 | ) | $ | 5.6 | $ | 48.9 | $ | (58.4 | ) | $ | 7.9 | ||||||||
Equity method income |
(1.0 | ) | (0.7 | ) | (0.8 | ) | (0.9 | ) | (0.9 | ) | ||||||||||
Fixed charges, exclusive of capitalized interest (a) |
140.7 | 138.6 | 124.7 | 127.8 | 187.1 | |||||||||||||||
Earnings |
$ | 17.2 | $ | 143.5 | $ | 172.8 | $ | 68.5 | $ | 194.1 | ||||||||||
FIXED CHARGES: |
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Interest charged to expense (b) |
$ | 131.6 | $ | 128.4 | $ | 114.0 | $ | 116.8 | $ | 173.6 | ||||||||||
Portion of rents representing interest (c) |
9.1 | 10.2 | 10.7 | 11.0 | 13.5 | |||||||||||||||
Fixed charges, exclusive of capitalized interest |
140.7 | 138.6 | 124.7 | 127.8 | 187.1 | |||||||||||||||
Capitalized interest |
3.0 | 1.4 | 2.0 | 2.4 | 5.6 | |||||||||||||||
Total fixed charges |
$ | 143.7 | $ | 140.0 | $ | 126.7 | $ | 130.2 | $ | 192.7 | ||||||||||
Ratio of earnings to fixed charges |
n/a | 1.03 | x | 1.36 | x | n/a | 1.01 | x | ||||||||||||
Amount by which earnings are inadequate to
cover fixed charges |
$ | 126.5 | n/a | n/a | $ | 61.7 | n/a | |||||||||||||
| (a) | Calculated in fixed charges section below. | |
| (b) | Excludes interest income. Includes amortization of deferred financing costs and debt discount amortization. | |
| (c) | Estimated to be 25% of consolidated rental expense. |