EX-12 8 c65760exv12.htm EX-12 exv12
EXHIBIT 12
JOHNSON CONTROLS, INC.
RATIO OF EARNINGS TO FIXED CHARGES
The following table shows our ratio of earnings to fixed charges for the fiscal years ended September 30, 2011 and 2010:
                 
    Year Ended     Year Ended  
(Dollars in millions)   September 30, 2011     September 30, 2010  
Net income attributable to Johnson Controls, Inc.
  $ 1,624     $ 1,491  
Provision for income taxes
    370       197  
Income attributable to noncontrolling interests
    117       75  
Income from equity affiliates
    (298 )     (254 )
Distributed income of equity affiliates
    194       212  
Amortization of previously capitalized interest
    10       11  
Fixed charges less capitalized interest
    331       302  
 
           
Earnings
  $ 2,348     $ 2,034  
 
           
 
               
Fixed charges:
               
Interest incurred and amortization of debt expense
  $ 224     $ 193  
Estimated portion of interest in rent expense
    141       130  
 
           
Fixed charges
  $ 365     $ 323  
Less: Interest capitalized during the period
    (34 )     (21 )
 
           
Fixed charges less capitalized interest
  $ 331     $ 302  
 
           
 
               
Ratio of earnings to fixed charges
    6.4       6.3  
 
           
For the purposes of computing this ratio, “earnings” consist of net income attributable to Johnson Controls, Inc. from continuing operations before income taxes, income attributable to noncontolling interests and income from equity affiliates plus (a) amortization of previously capitalized interest, (b) distributed income from equity affiliates and (c) fixed charges, minus interest capitalized during the period. “Fixed charges” consist of (i) interest incurred and amortization of debt expense plus (ii) the portion of rent expense representative of the interest factor.