CARDINAL HEALTH INC - FORM 10-Q - EX-12.1 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - November 9, 2009

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10-Q - QUARTERLY REPORT - CARDINAL HEALTH INCd10q.htm
EX-10.3 - RELEASE AGREEMENT - CARDINAL HEALTH INCdex103.htm
EX-32.1 - SECTION 906 CEO CERTIFICATION - CARDINAL HEALTH INCdex321.htm
EX-31.1 - SECTION 302 CEO CERTIFICATION - CARDINAL HEALTH INCdex311.htm
EX-32.2 - SECTION 906 CFO CERTIFICATION - CARDINAL HEALTH INCdex322.htm
EX-31.2 - SECTION 302 CFO CERTIFICATION - CARDINAL HEALTH INCdex312.htm
EX-99.1 - STATEMENT REGARDING FORWARD-LOOKING INFORMATION - CARDINAL HEALTH INCdex991.htm
EX-10.2.2 - FORM OF DIRECTORS' RESTRICTED SHARE UNITS AGREEMENT - CARDINAL HEALTH INCdex1022.htm
EX-10.4.2 - FORM OF AMENDED AND RESTATED AIRCRAFT TIME SHARING AGREEMENT - CARDINAL HEALTH INCdex1042.htm
EX-10.1.3 - FORM OF NONQUALIFIED STOCK OPTION AGREEMENT - CARDINAL HEALTH INCdex1013.htm
EX-10.1.2 - SECOND AMENDMENT TO CAH 2005 LONG-TERM INCENTIVE PLAN - CARDINAL HEALTH INCdex1012.htm
EX-10.1.1 - FIRST AMENDMENT TO CAH 2005 LONG-TERM INCENTIVE PLAN - CARDINAL HEALTH INCdex1011.htm
EX-10.1.4 - FORM OF RESTRICTED SHARE UNITS AGREEMENT - CARDINAL HEALTH INCdex1014.htm
EX-10.2.1 - FIRST AMENDMENT TO CAH 2007 NONEMPLOYEE DIRECTORS EQUITY INCENTIVE PLAN - CARDINAL HEALTH INCdex1021.htm

Exhibit 12.1

CARDINAL HEALTH, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

     Fiscal Year Ended June 30,     For the Three Months
Ended,
September 30, 2009		  

(in millions, except for ratios)

    2005     2006     2007     2008     2009    

Earnings before income taxes and discontinued operations

    $ 1,374.4      $ 1,316.3      $ 815.3      $ 1,295.1      $ 1,159.8      $ 175.0   

Less minority interest

      5.3        3.1        0.7        0.4        1.1        0.5   
                                                

Total earnings before income taxes, discontinued operations and minority interest

      1,379.7        1,319.4        816.0        1,295.5        1,160.9        175.5   

Plus fixed charges:

             

Interest expense

      87.2        102.5        108.2        143.4        118.4        34.4   

Capitalized interest

      4.8        4.1        10.5        13.5        5.1        1.0   

Amortization of debt offering costs

      3.4        3.4        7.4        3.5        3.8        6.2   

Interest portion of rent expense

      19.7        16.8        15.6        12.2        11.1        2.0   
                                                

Fixed charges

      115.1        126.8        141.7        172.6        138.4        43.6   

Plus amortization of capitalized interest

      3.2        2.9        1.3        1.5        2.5        1.7   

Less capitalized interest

      (4.8 )      (4.1 )      (10.5 )      (13.5 )      (5.1 )      (1.0 ) 
                                                

Earnings

    $ 1,493.2      $ 1,445.0      $ 948.5      $ 1,456.1      $ 1,296.7      $ 219.8   
                                                

Ratio of earnings to fixed charges(1)

      13.0        11.4        6.7        8.4        9.4        5.0   

 

(1)

The ratio of earnings to fixed charges is computed by dividing fixed charges into earnings before income taxes, discontinued operations and minority interest plus fixed charges and capitalized interest. Fixed charges include interest expense, amortization of debt offering costs and the portion of rent expense which is deemed to be representative of the interest factor. Interest expense recorded on tax exposures has been recorded in income tax expense and has therefore been excluded from the calculation.

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