EX-12 3 stjude100816_ex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Exhibit 12

ST. JUDE MEDICAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(amounts in thousands of dollars)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FISCAL YEAR

 

 

 

2009

 

2008

 

2007

 

2006

 

2005

 

EARNINGS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before income taxes

 

$

1,057,393

 

$

580,768

 

$

710,276

 

$

706,063

 

$

621,046

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Plus fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense (1)

 

 

45,603

 

 

72,554

 

 

72,258

 

 

48,461

 

 

10,386

 

Rent interest factor (2)

 

 

11,183

 

 

9,527

 

 

9,144

 

 

8,190

 

 

7,659

 

TOTAL FIXED CHARGES

 

 

56,786

 

 

82,081

 

 

81,402

 

 

56,651

 

 

18,045

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EARNINGS BEFORE INCOME TAXES AND FIXED CHARGES

 

$

1,114,179

 

$

662,849

 

$

791,678

 

$

762,714

 

$

639,091

 

RATIO OF EARNINGS TO FIXED CHARGES

 

 

19.6

 

 

8.1

 

 

9.7

 

 

13.5

 

 

35.4

 

 

 

 

 

(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.