Attached files
| file | filename |
|---|---|
| EX-32.1 - EXHIBIT 32.1 - LABORATORY CORP OF AMERICA HOLDINGS | ex32q22018.htm |
| EX-31.2 - EXHIBIT 31.2 - LABORATORY CORP OF AMERICA HOLDINGS | ex312q22018.htm |
| EX-31.1 - EXHIBIT 31.1 - LABORATORY CORP OF AMERICA HOLDINGS | ex311q22018.htm |
| 10-Q - 10-Q - LABORATORY CORP OF AMERICA HOLDINGS | lh201810-qq2.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, | Six Months Ended | |||||||||||||||||||||||
2013 | 2014 | 2015 | 2016 | 2017 | June 30, 2018 | |||||||||||||||||||
Income from continuing operations before income tax (1) | $ | 908.0 | $ | 820.6 | $ | 726.0 | $ | 1,064.1 | $ | 1,305.6 | $ | 554.2 | ||||||||||||
Equity in the income of investees | (18.6 | ) | (14.6 | ) | (10.6 | ) | (8.3 | ) | (8.8 | ) | 6.2 | |||||||||||||
Cash distributions received from equity investees | 14.4 | 8.8 | 10.7 | 9.5 | 9.3 | (4.9 | ) | |||||||||||||||||
903.8 | 814.8 | 726.1 | 1,065.3 | 1,306.1 | 555.5 | |||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest on long-term and short-term debt | ||||||||||||||||||||||||
including amortization of debt expense | 96.5 | 109.5 | 274.9 | 219.1 | 235.1 | 126.6 | ||||||||||||||||||
Portion of rental expense as can be | ||||||||||||||||||||||||
demonstrated to be representative | ||||||||||||||||||||||||
of the interest factor | 78.6 | 79.7 | 95.7 | 97.1 | 104.6 | 58.4 | ||||||||||||||||||
Total fixed charges | 175.1 | 189.2 | 370.6 | 316.2 | 339.7 | 185.0 | ||||||||||||||||||
Earnings before income taxes and | ||||||||||||||||||||||||
fixed charges | $ | 1,078.9 | $ | 1,004.0 | $ | 1,096.7 | $ | 1,422.9 | $ | 1,645.8 | $ | 740.5 | ||||||||||||
Ratio of earnings to fixed charges | 6.16 | 5.31 | 2.96 | 4.50 | 4.84 | 4.00 | ||||||||||||||||||
(1) The Company adopted ASU 2014-09, Revenue from Contracts with Customers (Topic 606) on January 1, 2018, using the full retrospective method. The 2017 and 2016 amounts have been adjusted to conform with the current year presentation. Amounts prior to 2016 have not been adjusted. See Note 1 – Basis of Presentation for more information.