EX-12 2 hyh2017form10kex12.htm EXHIBIT 12 Exhibit

Exhibit No. 12

HALYARD HEALTH, INC.
Computation of Ratio of Earnings to Fixed Charges
(Dollar amounts in millions)

 
Year Ended December 31,
 
2017
 
2016
 
2015
 
2014
 
2013
Income before income taxes
$
(72.2
)
 
$
(139.2
)
 
$
(168.5
)
 
$
(16.3
)
 
$
76.7

 
 
 
 
 
 
 
 
 
 
Interest expense
31.6

 
32.7

 
33.1

 
6.0

 
0.1

Capitalized interest
0.8

 
0.4

 
0.9

 
0.6

 
0.4

Interest factor in rent expense(a)
7.9

 
7.2

 
7.1

 
6.0

 
5.6

Fixed Charges
40.3

 
40.3

 
41.1

 
12.6

 
6.1

Income before income taxes plus fixed charges
$
(31.9
)
 
$
(98.9
)
 
$
(127.4
)
 
$
(3.7
)
 
$
82.8

Ratio of Earnings to Fixed Charges
(0.8
)
 
(2.5
)
 
(3.1
)
 
(0.3
)
 
13.6

__________________________________
(a) Interest portion of rent expense is assumed to be 33%.