EX-12 3 stjude083154_ex12.htm COMPUTATION OF RATIO EARNINGS TO FIXED CHARGES ST. JUDE MEDICAL, INC. EXHIBIT 12

EXHIBIT 12

ST. JUDE MEDICAL, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in thousands)

 

 

 

 

Six Months
Ended

 

FISCAL YEAR

 

 

 

June 28, 2008

 

2007

 

2006

 

2005

 

2004

 

2003

 

EARNINGS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before income taxes

 

$

550,414

 

$

744,305

 

$

720,641

 

$

621,404

 

$

537,192

 

$

458,637

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Plus fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense (1)

 

 

10,118

 

 

38,229

 

 

33,883

 

 

10,028

 

 

4,810

 

 

3,746

 

Rent interest factor (2)

 

 

4,572

 

 

9,144

 

 

8,190

 

 

7,659

 

 

5,778

 

 

5,513

 

TOTAL FIXED CHARGES

 

 

14,690

 

 

47,373

 

 

42,073

 

 

17,687

 

 

10,588

 

 

9,259

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EARNINGS BEFORE INCOME TAXES AND FIXED CHARGES

 

$

565,104

 

$

791,678

 

$

762,714

 

$

639,091

 

$

547,780

 

$

467,896

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

 

38.5

 

 

16.7

 

 

18.1

 

 

36.1

 

 

51.7

 

 

50.5

 

 

 

 

(1)

Interest expense consists of interest on indebtedness and amortization of debt issuance costs.

 

 

(2)

Approximately one-third of rental expense is deemed representative of the interest factor.