Attached files
Exhibit 12.1
Providence Service Corporation
Ratio of Earnings to Fixed Charges
| For the Years Ended December 31, | ||||||||||||||||
| 2005 | 2006 | 2007 | 2008 | 2009 | ||||||||||||
| Earnings: |
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| Income (loss) before income taxes and minority interest |
$ | 15,732,408 | $ | 16,042,310 | $ | 24,110,655 | $ | (167,916,215 | ) | $ | 33,292,665 | |||||
| Fixed charges |
4,091,938 | 5,149,797 | 9,311,319 | 29,036,528 | 31,276,065 | |||||||||||
| Earnings (losses) |
$ | 19,824,346 | $ | 21,192,107 | $ | 33,421,974 | $ | (138,879,687 | ) | $ | 64,568,730 | |||||
| Fixed charges: |
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| Interest expense |
$ | 1,033,019 | $ | 855,288 | $ | 3,071,537 | $ | 19,578,404 | $ | 20,798,250 | ||||||
| Interest element of rentals |
3,058,919 | 4,294,509 | 6,239,782 | 9,458,124 | 10,477,815 | |||||||||||
| Fixed charges |
$ | 4,091,938 | $ | 5,149,797 | $ | 9,311,319 | $ | 29,036,528 | $ | 31,276,065 | ||||||
| Ratio of earnings (losses) to fixed charges (1) |
4.84 | 4.12 | 3.59 | N/A | 2.06 | |||||||||||
| (1) | For purposes of computing the ratio of earnings to fixed charges, earnings consist of income before income taxes and minority interest, fixed charges, amortization of capitalized interest and distributed income of equity investees less interest capitalized, income from equity investee and distributions to minority holders. Fixed charges consist of interest expense, capitalized interest, and the portion of rentals deemed to be interest. Earnings were not sufficient to cover fixed charges by approximately $167.9 million for the twelve months ended December 31, 2008. |