EX-12.1 3 dhr-20131231xexx121.htm CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES DHR-2013.12.31-EX-12.1


Exhibit 12.1
Danaher Corporation
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
(In millions, except ratio data)
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31
 
 
2009
 
2010
 
2011
 
2012
 
2013
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Gross Interest Expense
$
118.7

 
$
117.1

 
$
141.6

 
$
157.5

 
$
145.9

 
Interest Element of Rental Expense
13.1

 
15.2

 
19.9

 
22.3

 
19.4

 
Interest on Unrecognized Tax Benefits

 

 

 

 

 
Total Fixed Charges
$
131.8

 
$
132.3

 
$
161.5

 
$
179.8

 
$
165.3

 
 
 
 
 
 
 
 
 
 
 
 
Earnings Available for Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Earnings From Continuing Operations (Excluding Earnings from Equity Investees) Before Income Taxes Plus Distributed Income of Equity Investees
$
1,326.1

 
$
1,915.8

 
$
2,429.4

 
$
2,985.4

 
$
3,566.0

 
Add Fixed Charges
131.8

 
132.3

 
161.5

 
179.8

 
165.3

 
Interest on Unrecognized Tax Benefits

 

 

 

 

 
Total Earnings Available for Fixed Charges
$
1,457.9

 
$
2,048.1

 
$
2,590.9

 
$
3,165.2

 
$
3,731.3

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
11.1
 
15.5
 
16.0
 
17.6
 
22.6
 
 
 
 
 
 
 
 
 
 
 
 
NOTE:  These ratios include Danaher Corporation and its consolidated subsidiaries. The ratio of earnings to fixed charges was computed by dividing earnings by fixed charges for the periods indicated, where “earnings” consist of (1) earnings from continuing operations (excluding earnings from equity investees) before income taxes plus distributed income of equity investees; plus (2) fixed charges, and “fixed charges” consist of (A) interest, whether expensed or capitalized, on all indebtedness, (B) amortization of premiums, discounts and capitalized expenses related to indebtedness, and (C) an interest component representing the estimated portion of rental expense that management believes is attributable to interest. Interest on unrecognized tax benefits is included in the tax provision in the Company's Consolidated Statements of Earnings and is excluded from the computation of fixed charges.