<PAGE> 1
EXHIBIT 12
HCA -- THE HEALTHCARE COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
FOR THE QUARTERS AND SIX MONTHS ENDED JUNE 30, 2000 AND 1999
(DOLLARS IN MILLIONS)
<TABLE>
<CAPTION>
QUARTER SIX MONTHS
------------- --------------
2000 1999 2000 1999
----- ----- ----- ------
<S> <C> <C> <C> <C>
EARNINGS:
Income (loss) before minority interests and income taxes.... $(341) $ 234 $ 177 $ 818
Fixed charges, excluding capitalized interest............... 162 146 306 288
----- ----- ----- ------
$(179) $ 380 $ 483 $1,106
===== ===== ===== ======
FIXED CHARGES:
Interest charged to expense................................. $ 136 $ 118 $ 255 $ 229
Interest portion of rental expense and amortization of
deferred loan costs....................................... 26 28 51 59
----- ----- ----- ------
Fixed charges, excluding capitalized interest............... 162 146 306 288
Capitalized interest........................................ 6 5 11 11
----- ----- ----- ------
$ 168 $ 151 $ 317 $ 299
===== ===== ===== ======
Ratio of earnings to fixed charges.......................... (A) 2.51 1.52 3.70
</TABLE>
---------------
(A) For the quarter ended June 30, 2000, earnings are inadequate to cover fixed
charges by $347 million.
