EX-12 5 xyl12312017ex12.htm EXHIBIT 12 Exhibit


EXHIBIT 12

Ratio of Earnings to Fixed Charges

 
Years Ended December 31,
(In Millions Except Ratios)
2017
 
2016
 
2015
 
2014
 
2013
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest Expense
$
82

 
$
70

 
$
55

 
$
54

 
$
55

 
 
 
 
 
 
 
 
 
 
Interest Portion of Rental Expense (a)
23

 
21

 
19

 
24

 
25

 
 
 
 
 
 
 
 
 
 
Total Fixed Charges
105

 
91

 
74

 
78

 
80

 
 
 
 
 
 
 
 
 
 
Earnings Before Income Taxes, Discontinued Operations and Fixed Charges:
 
 
 
 
 
 
 
 
 
    
 
 
 
 
 
 
 
 
 
Pre-tax income (before income or loss from equity investees)
463

 
337

 
403

 
421

 
298

 
 
 
 
 
 
 
 
 
 
Fixed Charges
105

 
91

 
74

 
78

 
80

 
 
 
 
 
 
 
 
 
 
Total Earnings Available For Fixed Charges
$
568

 
$
428

 
$
477

 
$
499

 
$
378

 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges:
5.4

 
4.7

 
6.4

 
6.4

 
4.7


(a)
Calculated as 33% of rent expense, which is a reasonable approximation of the interest factor.