Exhibit 12.1
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AmeriSource Health Corporation
Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
Quarter Ended
December 31, Fiscal Year Ended September 30,
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2000 2000 1999 1998 (1) 1997 1996
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Determination of earnings:
Income before taxes and extraordinary items $42,244 $159,700 $119,312 $ 80,752 $ 82,186 $ 63,184
Equity in net loss of unconsolidated affiliate 774 641 n/a n/a n/a n/a
Fixed charges (as calculated below) 12,377 47,753 45,402 63,804 48,178 40,673
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Total earnings as defined $55,395 $208,094 $164,714 $ 144,556 $130,364 $103,857
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Fixed charges:
Interest expense (2) $10,876 $ 41,857 $ 39,690 $ 58,179 $ 43,259 $ 37,273
Estimated interest portion of rent expense 1,501 5,896 5,712 5,625 4,919 3,400
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Total fixed charges $12,377 $ 47,753 $ 45,402 $ 63,804 $ 48,178 $ 40,673
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Ratio of earnings to fixed charges: 4.5 4.4 3.6 2.3 2.7 2.6
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(1) The 1998 ratio has been negatively impacted by $7.8 million of Interest
expense - adjustment of common stock put warrant to fair value, a non-cash
charge further described in Note 5 of Form 10-K for the Fiscal Year Ended
September 30, 2000.
(2) For financial statement purposes, interest expense includes income earned
on temporary investment of excess funds and amortization of deferred
financing fees.
