EX-12 5 exhibit12_101017s3.htm EXHIBIT 12 Exhibit


Herman Miller, Inc.
Computation of Ratio of Earnings to Fixed Charges
(in millions)

 
2017
2016
2015
2014
2013
Earnings (loss) before income taxes
$
177.6

$
196.6

$
145.2

$
(43.4
)
$
97.2

Fixed charges
16.7

16.6

18.7

18.3

17.9

Earnings
$
194.3

$
213.2

$
163.9

$
(25.1
)
$
115.1

 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
Interest expense and amortization of debt issuance costs
$
15.7

$
15.8

$
17.9

$
17.9

$
17.5

Estimate of interest within rental expense
1.0

0.8

0.8

0.4

0.4

Fixed charges
$
16.7

$
16.6

$
18.7

$
18.3

$
17.9

 
 
 
 
 
 
Ratio
11.6

12.8

8.8

(a)

6.4


(a) Earnings in the year ended May 31, 2014 were inadequate to cover fixed charges. Additional earnings of $43.4 million in the year ended May 31, 2014 would have been necessary to bring the ratio for this period to 1.0.