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10-Q - 10-Q - DAVITA INC.dva-33118x10q.htm
EX-32.2 - EXHIBIT 32.2 - DAVITA INC.dva-33118ex322.htm
EX-32.1 - EXHIBIT 32.1 - DAVITA INC.dva-33118ex321.htm
EX-31.2 - EXHIBIT 31.2 - DAVITA INC.dva-33118ex312.htm
EX-31.1 - EXHIBIT 31.1 - DAVITA INC.dva-33118ex311.htm
EX-10.3 - EXHIBIT 10.3 - DAVITA INC.dva-33118ex103.htm
EX-10.2 - EXHIBIT 10.2 - DAVITA INC.dva-33118ex102.htm
EX-10.1 - EXHIBIT 10.1 - DAVITA INC.dva-33118ex101.htm
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 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,
2018
 
Year ended December 31,
 
 
2017
 
2016
 
2015
 
2014
 
2013
 
(dollars in thousands)
Earnings adjusted for fixed charges:
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before
income taxes
$
301,752

 
$
1,399,786

 
$
1,623,105

 
$
688,387

 
$
1,094,322

 
$
692,438

Add:
 
 
 
 
 
 
 
 
 
 
 
Debt expense
113,516

 
430,634

 
414,116

 
408,380

 
410,223

 
429,938

Interest portion of rent expense
46,856

 
171,842

 
154,901

 
143,311

 
130,640

 
120,398

Less: Noncontrolling interests
(40,088
)
 
(175,176
)
 
(159,404
)
 
(158,304
)
 
(140,949
)
 
(124,438
)
 
120,284

 
427,300

 
409,613

 
393,387

 
399,914

 
425,898

 
$
422,036

 
$
1,827,086

 
$
2,032,718

 
$
1,081,774

 
$
1,494,236

 
$
1,118,336

Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
Debt expense
113,516

 
430,634

 
414,116

 
408,380

 
410,223

 
429,938

Interest portion of rent expense
46,856

 
171,842

 
154,901

 
143,311

 
130,640

 
120,398

Capitalized interest
6,121

 
19,176

 
12,990

 
9,723

 
7,888

 
6,408

 
$
166,493

 
$
621,652

 
$
582,007

 
$
561,414

 
$
548,751

 
$
556,744

Ratio of earnings to fixed charges
2.53

 
2.94

 
3.49

 
1.93

 
2.72

 
2.01