EX-12 4 a2217724zex-12.htm EX-12

EXHIBIT 12

 

THE TORO COMPANY AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

(Not Covered by Report of Independent Registered Public Accounting Firm)

 

 

 

10/31/2013

 

10/31/2012

 

10/31/2011

 

10/31/2010

 

10/31/2009

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before income taxes

 

$

226,713,000

 

$

196,262,000

 

$

174,826,000

 

$

141,268,000

 

$

95,788,000

 

 

 

 

 

 

 

 

 

 

 

 

 

Plus: Fixed charges

 

24,343,024

 

24,294,555

 

24,249,868

 

23,579,921

 

24,280,076

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings available to cover fixed charges

 

$

251,056,024

 

$

220,556,555

 

$

199,075,868

 

$

164,847,921

 

$

120,068,076

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

10.31

 

9.08

 

8.21

 

6.99

 

4.95

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

16,210,000

 

$

16,906,000

 

$

16,970,000

 

$

17,113,000

 

$

17,578,000

 

 

 

 

 

 

 

 

 

 

 

 

 

Rentals (interest expense)

 

8,133,024

 

7,388,555

 

7,279,868

 

6,466,921

 

6,702,076

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

$

24,343,024

 

$

24,294,555

 

$

24,249,868

 

$

23,579,921

 

$

24,280,076