LABORATORY CORP OF AMERICA HOLDINGS - FORM 10-K - EX-12.1 - EXHIBIT 12.1 - February 27, 2018

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EX-32.1 - EXHIBIT 32.1 - LABORATORY CORP OF AMERICA HOLDINGSlh10-kex322017.htm
EX-31.2 - EXHIBIT 31.2 - LABORATORY CORP OF AMERICA HOLDINGSlh10-kex3122017.htm
EX-31.1 - EXHIBIT 31.1 - LABORATORY CORP OF AMERICA HOLDINGSlh10-kex3112017.htm
EX-24.9 - EXHIBIT 24.9 - LABORATORY CORP OF AMERICA HOLDINGSexhibit2492017.htm
EX-24.8 - EXHIBIT 24.8 - LABORATORY CORP OF AMERICA HOLDINGSexhibit2482017.htm
EX-24.7 - EXHIBIT 24.7 - LABORATORY CORP OF AMERICA HOLDINGSexhibit2472017.htm
EX-24.6 - EXHIBIT 24.6 - LABORATORY CORP OF AMERICA HOLDINGSexhibit2462017.htm
EX-24.5 - EXHIBIT 24.5 - LABORATORY CORP OF AMERICA HOLDINGSexhibit2452017.htm
EX-24.4 - EXHIBIT 24.4 - LABORATORY CORP OF AMERICA HOLDINGSexhibit2442017.htm
EX-24.3 - EXHIBIT 24.3 - LABORATORY CORP OF AMERICA HOLDINGSexhibit2432017.htm
EX-24.2 - EXHIBIT 24.2 - LABORATORY CORP OF AMERICA HOLDINGSexhibit2422017.htm
EX-24.1 - EXHIBIT 24.1 - LABORATORY CORP OF AMERICA HOLDINGSexhibit2412017.htm
EX-23.1 - EXHIBIT 23.1 - LABORATORY CORP OF AMERICA HOLDINGSexhibit2312017.htm
EX-21.1 - EXHIBIT 21.1 - LABORATORY CORP OF AMERICA HOLDINGSexhibit212017.htm
10-K - 10-K - LABORATORY CORP OF AMERICA HOLDINGSlh10-k2017.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,
 
 
2013
 
2014
 
2015
 
2016
 
2017
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before (a) income tax
 
$
908.0

 
$
820.6

 
$
726.0

 
$
1,105.5

 
$
1,134.9

Equity in the income of investees
 
(18.6
)
 
(14.6
)
 
(10.6
)
 
(8.3
)
 
(8.8
)
Cash distributions received from equity investees
 
14.4

 
8.8

 
10.7

 
9.5

 
9.3

 
 
903.8

 
814.8

 
726.1

 
1,106.7

 
1,135.4

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest on long-term and
 
 
 
 
 
 
 
 
 
 
short-term debt including
 
 
 
 
 
 
 
 
 
 
amortization of debt expense
 
96.5

 
109.5

 
274.9

 
219.1

 
235.1

 
 
 
 
 
 
 
 
 
 
 
Portion of rental expense as can be
 
 
 
 
 
 
 
 
 
 
demonstrated to be representative
 
 
 
 
 
 
 
 
 
 
of the interest factor (b)
 
78.6

 
79.7

 
95.7

 
97.1

 
104.6

 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
 
175.1

 
189.2

 
370.6

 
316.2

 
339.7

 
 
 
 
 
 
 
 
 
 
 
Earnings before income taxes and
 
 
 
 
 
 
 
 
 
 
fixed charges
 
$
1,078.9

 
$
1,004.0

 
$
1,096.7

 
$
1,422.9

 
$
1,475.1

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
6.16

 
5.31

 
2.96

 
4.50

 
4.34

 
 
 
 
 
 
 
 
 
 
 
 
 
 



LABORATORY CORP OF AMERICA HOLDINGS Reports