EX-12 3 a07-31527_3ex12.htm EX-12

EXHIBIT 12

 

THE TORO COMPANY AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

(Not Covered by Independent Auditors’ Report)

 

 

 

10/31/2007

 

10/31/2006

 

10/31/2005

 

10/31/2004

 

10/31/2003

 

Earnings before income taxes

 

$

213,227,000

 

$

192,754,000

 

$

170,272,000

 

$

153,233,000

 

$

120,918,000

 

Plus: Fixed charges

 

26,003,000

 

24,154,000

 

24,298,000

 

22,004,000

 

22,251,000

 

Earnings available to cover fixed charges

 

$

239,230,000

 

$

216,908,000

 

$

194,570,000

 

$

175,237,000

 

$

143,169,000

 

Ratio of earnings to fixed charges

 

9.20

 

8.98

 

8.01

 

7.96

 

6.43

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

19,445,000

 

$

17,672,000

 

$

17,733,000

 

$

15,523,000

 

$

16,285,000

 

Rentals (interest expense)

 

6,558,000

 

6,482,000

 

6,565,000

 

6,481,000

 

5,966,000

 

Total fixed charges

 

$

26,003,000

 

$

24,154,000

 

$

24,298,000

 

$

22,004,000

 

$

22,251,000