Attached files
| file | filename |
|---|---|
| EX-32.2 - EX-32.2 - CVS HEALTH Corp | cvs-20171231ex322c605d9.htm |
| EX-32.1 - EX-32.1 - CVS HEALTH Corp | cvs-20171231ex32153be1d.htm |
| EX-31.2 - EX-31.2 - CVS HEALTH Corp | cvs-20171231ex312a08c9c.htm |
| EX-31.1 - EX-31.1 - CVS HEALTH Corp | cvs-20171231ex311ff6c33.htm |
| EX-23 - EX-23 - CVS HEALTH Corp | cvs-20171231xex23.htm |
| EX-21 - EX-21 - CVS HEALTH Corp | cvs-20171231ex219e947a2.htm |
| EX-13 - EX-13 - CVS HEALTH Corp | cvs-20171231ex13075aa4b.htm |
| 10-K - 10-K - CVS HEALTH Corp | cvs-20171231x10k.htm |
Exhibit 12
CVS Health Corporation
Computation of Ratios of Earnings to Fixed Charges
|
|
|
Year Ended December 31, |
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|
In millions |
|
2017 |
|
2016 |
|
2015 |
|
2014 |
|
2013 |
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Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations before income taxes (a) |
|
$ |
8,267 |
|
|
$ |
8,635 |
|
|
$ |
8,614 |
|
|
$ |
7,678 |
|
|
$ |
7,528 |
|
|
Interest portion of net rental expense (b) |
|
|
802 |
|
|
|
790 |
|
|
|
764 |
|
|
|
786 |
|
|
|
750 |
|
|
Interest expense (net of interest capitalized) |
|
|
1,062 |
|
|
|
1,078 |
|
|
|
859 |
|
|
|
615 |
|
|
|
517 |
|
|
Adjusted earnings |
|
$ |
10,131 |
|
|
$ |
10,503 |
|
|
$ |
10,237 |
|
|
$ |
9,079 |
|
|
$ |
8,795 |
|
|
Fixed Charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest portion of net rental expense (b) |
|
|
802 |
|
|
|
790 |
|
|
|
764 |
|
|
|
786 |
|
|
|
750 |
|
|
Interest expense (net of interest capitalized) |
|
|
1,062 |
|
|
|
1,078 |
|
|
|
859 |
|
|
|
615 |
|
|
|
517 |
|
|
Interest capitalized |
|
|
8 |
|
|
|
13 |
|
|
|
12 |
|
|
|
19 |
|
|
|
25 |
|
|
Total fixed charges |
|
$ |
1,872 |
|
|
$ |
1,881 |
|
|
$ |
1,635 |
|
|
$ |
1,420 |
|
|
$ |
1,292 |
|
|
Ratio of earnings to fixed charges |
|
|
5.41 |
x |
|
|
5.58 |
x |
|
|
6.26 |
x |
|
|
6.39 |
x |
|
|
6.81 |
x |
|
|
|
|
|
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(a) |
Excludes net (income) loss attributable to noncontrolling interest. |
|
(b) |
The portion of net rental expense deemed to be representative of the interest factor. |