DAVITA INC. - FORM 10-Q - EX-12.1 - RATION OF EARNINGS TO FIXED CHARGES - May 3, 2010

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10-Q - FORM 10-Q - DAVITA INC.d10q.htm
EX-31.1 - SECTION 302 CERTIFICATION OF CHIEF EXECUTIVE OFFICER - DAVITA INC.dex311.htm
EX-32.2 - SECTION 906 CERTIFICATION OF CHIEF FINANCIAL OFFICER - DAVITA INC.dex322.htm
EX-10.6 - BONUS STRUCTURE FOR KENT J. THIRTY - DAVITA INC.dex106.htm
EX-10.2 - AMENDMENT TO MR. BORGEN'S EMPLOYMENT AGREEMENT - DAVITA INC.dex102.htm
EX-32.1 - SECTION 906 CERTIFICATION OF CHIEF EXECUTIVE OFFICER - DAVITA INC.dex321.htm
EX-10.1 - EMPLOYMENT AGREEMENT - LUIS BORGEN - DAVITA INC.dex101.htm
EX-10.5 - SEVERANCE PLAN - DAVITA INC.dex105.htm
EX-31.2 - SECTION 302 CERTIFICATION OF CHIEF FINANCIAL OFFICER - DAVITA INC.dex312.htm
EX-10.7 - BONUS STRUCTURE FOR DENNIS L. KOGOD - DAVITA INC.dex107.htm
EX-10.8 - BONUS STRUCTURE FOR THOMAS O. USILTON, JR - DAVITA INC.dex108.htm
EX-10.4 - AMENDMENT TO STOCK APPRECIATION RIGHTS AGREEMENT - WHITNEY - DAVITA INC.dex104.htm
EXCEL - IDEA: XBRL DOCUMENT - DAVITA INC.Financial_Report.xls

Exhibit 12.1

DAVITA INC.

RATIO OF EARNINGS TO FIXED CHARGES

The ratio of earnings to fixed charges is computed by dividing earnings by fixed charges. Earnings for this purpose are defined as pretax income from continuing operations adjusted by adding back fixed charges expensed during the period less pre-tax net income attributable to noncontrolling interests. Fixed charges include debt expense (interest expense and the amortization of deferred financing costs), the estimated interest component of rent expense on operating leases, and capitalized interest.

 

     Three months
ended
March 31,
2010		     Year ended December 31,  
     2009     2008     2007     2006     2005  
   (dollars in thousands)  

Earnings adjusted for fixed charges:

             

Income from continuing operations before income taxes

    $ 198,914      $ 758,224      $ 656,791      $ 674,224      $ 513,900      $ 354,592   

Add:

             

Debt expense

      44,583        185,755        224,716        257,147        276,706        139,586   

Interest portion of rent expense

      21,055        81,122        72,562        64,613        60,395        35,189   

Less: Noncontrolling  interests

      (15,781 )      (57,803 )      (47,331 )      (46,702 )      (38,141 )      (23,495 ) 
                                                
     49,857        209,074        249,947        275,058        298,960        151,280   
                                                
   $ 248,771      $ 967,298      $ 906,738      $ 949,282      $ 812,860      $ 505,872   
                                                

Fixed charges:

             

Debt expense

    $ 44,583      $ 185,755      $ 224,716      $ 257,147      $ 276,706      $ 139,586   

Interest portion of rent expense

      21,055        81,122        72,562        64,613        60,395        35,189   

Capitalized interest

      453        3,627        4,189        3,878        4,708        1,912   
                                                
   $ 66,091      $ 270,504      $ 301,467      $ 325,638      $ 341,809      $ 176,687   
                                                

Ratio of earnings to fixed charges

      3.76        3.58        3.01        2.92        2.38        2.86   
                                                

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