EX-12 9 a2230524zex-12.htm EX-12

EXHIBIT 12

 

THE TORO COMPANY AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

(Not Covered by Report of Independent Registered Public Accounting Firm)

 

 

 

10/31/2016

 

10/31/2015

 

10/31/2014

 

10/31/2013

 

10/31/2012

 

Earnings before income taxes

 

$

330,460,000

 

$

291,031,000

 

$

256,445,000

 

$

226,713,000

 

$

196,262,000

 

Plus: Fixed charges

 

28,122,788

 

27,085,508

 

23,535,622

 

24,343,024

 

24,294,555

 

Earnings available to cover fixed charges

 

$

358,582,788

 

$

318,116,508

 

$

279,980,622

 

$

251,056,024

 

$

220,556,555

 

Ratio of earnings to fixed charges

 

12.75

 

11.74

 

11.90

 

10.31

 

9.08

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Expense

 

$

19,336,000

 

$

18,757,000

 

$

15,426,000

 

$

16,210,000

 

$

16,906,000

 

Rentals (Interest factor)

 

8,786,788

 

8,328,508

 

8,109,622

 

8,133,024

 

7,388,555

 

Total fixed charges

 

$

28,122,788

 

$

27,085,508

 

$

23,535,622

 

$

24,343,024

 

$

24,294,555