Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - Express Scripts Holding Co. | d734507d8k.htm |
| EX-99.1 - EX-99.1 - Express Scripts Holding Co. | d734507dex991.htm |
| EX-99.2 - EX-99.2 - Express Scripts Holding Co. | d734507dex992.htm |
| EX-23.2 - EX-23.2 - Express Scripts Holding Co. | d734507dex232.htm |
| EX-23.1 - EX-23.1 - Express Scripts Holding Co. | d734507dex231.htm |
| EX-99.3 - EX-99.3 - Express Scripts Holding Co. | d734507dex993.htm |
EXHIBIT 99.4
EXPRESS SCRIPTS HOLDING COMPANY
Calculation of Ratio of Earnings to Fixed Charges
(Dollar amounts in millions)
| Year Ended December 31, | ||||||||||||||||||||
| 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||
| Income from continuing operations before income taxes(1) |
$ | 3,012.0 | $ | 2,188.5 | $ | 2,027.1 | $ | 1,908.7 | $ | 1,308.4 | ||||||||||
| Add: |
||||||||||||||||||||
| Interest expense(2) |
529.1 | 619.0 | 299.7 | 167.1 | 194.4 | |||||||||||||||
| Estimated interest component of rental expense |
20.7 | 34.5 | 10.1 | 13.4 | 9.3 | |||||||||||||||
| Subtract: |
||||||||||||||||||||
| Income attributable to non-controlling interest |
(28.1 | ) | (17.2 | ) | (2.7 | ) | — | — | ||||||||||||
| Income as adjusted |
$ | 3,533.7 | $ | 2,824.8 | $ | 2,334.2 | $ | 2,089.2 | $ | 1,512.1 | ||||||||||
| Fixed charges: |
||||||||||||||||||||
| Interest expense(2) |
529.1 | 619.0 | 299.7 | 167.1 | 194.4 | |||||||||||||||
| Estimated interest component of rental expense |
20.7 | 34.5 | 10.1 | 13.4 | 9.3 | |||||||||||||||
| Total fixed charges |
$ | 549.8 | $ | 653.5 | $ | 309.8 | $ | 180.5 | $ | 203.7 | ||||||||||
| Ratio of Earnings to Fixed Charges |
6.4 | 4.3 | 7.5 | 11.6 | 7.4 | |||||||||||||||
| (1) | Consists of income from continuing operations before income taxes adjusted to include distributed equity income from joint venture. |
| (2) | Interest expense for the year ended December 31, 2013 excludes $67.0 million of interest expense related to the redemption of ESI’s $1,000.0 million aggregate principal amount of 6.250% senior notes due 2014. |
Note: Interest component of rental expense estimated to be 1/3 of rental expense, which management believes represents a reasonable approximation of the interest factor.