Attached files
| file | filename |
|---|---|
| EX-31.2 - EXHIBIT 31.2 - LABORATORY CORP OF AMERICA HOLDINGS | exhibit312q32017.htm |
| EX-32.1 - EXHIBIT 32.1 - LABORATORY CORP OF AMERICA HOLDINGS | exhibit32q32017.htm |
| EX-31.1 - EXHIBIT 31.1 - LABORATORY CORP OF AMERICA HOLDINGS | exhibit311q32017.htm |
| EX-10.3 - EXHIBIT 10.3 - LABORATORY CORP OF AMERICA HOLDINGS | exhibit103q32017.htm |
| EX-10.2 - EXHIBIT 10.2 - LABORATORY CORP OF AMERICA HOLDINGS | exhibit102q32017.htm |
| EX-10.1 - EXHIBIT 10.1 - LABORATORY CORP OF AMERICA HOLDINGS | exhibit101q32017.htm |
| 10-Q - 10-Q - LABORATORY CORP OF AMERICA HOLDINGS | lh201710-qq3_new.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, | Nine Months Ended | |||||||||||||||||||||||
2012 | 2013 | 2014 | 2015 (b) | 2016 | September 30, 2017 | |||||||||||||||||||
Income from continuing operations before income tax (a) | $ | 936.7 | $ | 908.0 | $ | 820.6 | $ | 726.0 | $ | 1,105.5 | $ | 845.9 | ||||||||||||
Equity in the income of investees | (21.4 | ) | (18.6 | ) | (14.6 | ) | (10.6 | ) | (8.3 | ) | (7.7 | ) | ||||||||||||
Cash distributions received from equity investees | 21.0 | 14.4 | 8.8 | 10.7 | 9.5 | 7.4 | ||||||||||||||||||
936.3 | 903.8 | 814.8 | 726.1 | 1,106.7 | 845.6 | |||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest on long-term and short-term debt | ||||||||||||||||||||||||
including amortization of debt expense | 94.5 | 96.5 | 109.5 | 274.9 | 219.1 | 166.2 | ||||||||||||||||||
Portion of rental expense as can be | ||||||||||||||||||||||||
demonstrated to be representative | ||||||||||||||||||||||||
of the interest factor (b) | 75.3 | 78.6 | 79.7 | 95.7 | 97.1 | 76.9 | ||||||||||||||||||
Total fixed charges | 169.8 | 175.1 | 189.2 | 370.6 | 316.2 | 243.1 | ||||||||||||||||||
Earnings before income taxes and | ||||||||||||||||||||||||
fixed charges | $ | 1,106.1 | $ | 1,078.9 | $ | 1,004.0 | $ | 1,096.7 | $ | 1,422.9 | $ | 1,088.7 | ||||||||||||
Ratio of earnings to fixed charges | 6.51 | 6.16 | 5.31 | 2.96 | 4.50 | 4.48 | ||||||||||||||||||
(a) The Company changed its financial statement classification for certain gross receipts taxes in 2016, removing these taxes from its provision for income taxes and moving this expense into selling, general and administrative expenses. Certain gross receipts of $6.1 and $7.6 were reclassified in 2014 and 2013 but inadvertently omitted from previously disclosed ratio of earnings to fixed charges for those years. The ratios presented above have the corrected amounts included therein.
(b) Income from continuing operations before tax and rental expense for the period ended December 31, 2015 has been revised.