EX-12 2 c97531exv12.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12
 

Exhibit 12
JOHNSON CONTROLS, INC.
COMPUTATION OF RATIO OF EARNINGS TO
FIXED CHARGES

(Dollars in millions)
         
    Three Months Ended
    December 31, 2004
 
Net income from continuing operations
  $ 160.5  
Provision for income taxes
    48.6  
Minority interests in net earnings of subsidiaries
    21.0  
Income from equity affiliates
    (15.8 )
Distributed income of equity affiliates
    0.4  
Amortization of previously capitalized interest
    1.8  
 
       
 
    216.5  
 
       
 
       
Fixed charges:
       
Interest incurred and amortization of debt expense
    33.4  
Estimated portion of rent expense
    22.9  
 
       
Fixed charges
    56.3  
Less: Interest capitalized during the period
    (2.6 )
 
       
 
    53.7  
 
       
 
       
Earnings
  $ 270.2  
 
       
 
       
Ratio of earnings to fixed charges
    4.8  
 
       
For the purpose of computing this ratio, “earnings” consist of income from continuing operations before income taxes, minority interest in earnings or losses of consolidated subsidiaries and income from equity affiliates plus (a) amortization of previously capitalized interest, (b) distributed income from equity affiliates and (c) fixed charges, minus interest capitalized during the period. “Fixed charges” consist of (a) interest incurred and amortization of debt expense plus (b) the portion of rent expense representative of the interest factor.

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