LABORATORY CORP OF AMERICA HOLDINGS - FORM 10-K - EX-12.1 - EXHIBIT 12.1 - February 27, 2017

Attached files

file filename
EX-32.1 - EXHIBIT 32.1 - LABORATORY CORP OF AMERICA HOLDINGSlh10-kex322016.htm
EX-31.2 - EXHIBIT 31.2 - LABORATORY CORP OF AMERICA HOLDINGSlh10-kex3122016.htm
EX-31.1 - EXHIBIT 31.1 - LABORATORY CORP OF AMERICA HOLDINGSlh10-kex3112016.htm
EX-24.9 - EXHIBIT 24.9 - LABORATORY CORP OF AMERICA HOLDINGSexhibit2492016.htm
EX-24.8 - EXHIBIT 24.8 - LABORATORY CORP OF AMERICA HOLDINGSexhibit2482016.htm
EX-24.7 - EXHIBIT 24.7 - LABORATORY CORP OF AMERICA HOLDINGSexhibit2472016.htm
EX-24.6 - EXHIBIT 24.6 - LABORATORY CORP OF AMERICA HOLDINGSexhibit2462016.htm
EX-24.5 - EXHIBIT 24.5 - LABORATORY CORP OF AMERICA HOLDINGSexhibit2452016.htm
EX-24.4 - EXHIBIT 24.4 - LABORATORY CORP OF AMERICA HOLDINGSexhibit2442016.htm
EX-24.3 - EXHIBIT 24.3 - LABORATORY CORP OF AMERICA HOLDINGSexhibit2432016.htm
EX-24.2 - EXHIBIT 24.2 - LABORATORY CORP OF AMERICA HOLDINGSexhibit2422016.htm
EX-24.1 - EXHIBIT 24.1 - LABORATORY CORP OF AMERICA HOLDINGSexhibit2412016.htm
EX-23.1 - EXHIBIT 23.1 - LABORATORY CORP OF AMERICA HOLDINGSexhibit2312016.htm
EX-21.1 - EXHIBIT 21.1 - LABORATORY CORP OF AMERICA HOLDINGSexhibit212016.htm
10-K - 10-K - LABORATORY CORP OF AMERICA HOLDINGSlh10-k2016.htm
Exhibit 12.1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(dollars in millions, except ratio information)
 
 
 
 
 
 
 
 
 
 
 
 
 
Fiscal Years Ended December 31,
 
 
2012
 
2013
 
2014
 
2015
 
2016
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income tax
 
$
944.2

 
$
915.6

 
$
826.7

 
$
726.0

 
$
1,105.5

Equity in the income of investees
 
(21.4
)
 
(18.6
)
 
(14.6
)
 
(10.6
)
 
(8.3
)
Cash distributions received from equity investees
 
21.0

 
14.4

 
8.8

 
10.7

 
9.5

 
 
943.8

 
911.4

 
820.9

 
726.1

 
1,106.7

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest on long-term and
 
 
 
 
 
 
 
 
 
 
short-term debt including
 
 
 
 
 
 
 
 
 
 
amortization of debt expense
 
94.5

 
96.5

 
109.5

 
274.9

 
219.1

 
 
 
 
 
 
 
 
 
 
 
Portion of rental expense as can be
 
 
 
 
 
 
 
 
 
 
demonstrated to be representative
 
 
 
 
 
 
 
 
 
 
of the interest factor (a)
 
75.3

 
78.6

 
79.7

 
95.7

 
97.1

 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
 
169.8

 
175.1

 
189.2

 
370.6

 
316.2

 
 
 
 
 
 
 
 
 
 
 
Earnings before income taxes and
 
 
 
 
 
 
 
 
 
 
fixed charges
 
$
1,113.6

 
$
1,086.5

 
$
1,010.1

 
$
1,096.7

 
$
1,422.9

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
6.56

 
6.21

 
5.34

 
2.96

 
4.50

 
 
 
 
 
 
 
 
 
 
 
 

(a) Income from continuing operations before tax and rental expense for the period ended December 31, 2015 has been revised.

LABORATORY CORP OF AMERICA HOLDINGS Reports