EX-12 2 pll201410kex12.htm RATIO OF EARNINGS TO FIXED CHARGES PLL 2014 10K EX 12


Exhibit 12
 
Pall Corporation and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(amounts in thousands, except ratios)
 
 
 
Fiscal Year Ended
 
 
July 31, 2014
 
July 31, 2013
 
July 31, 2012
 
July 31, 2011
 
July 31, 2010
Determination of Earnings:
 
 
 
 
 
 
 
 
 
 
Earnings before income taxes
 
$
451,415

 
$
411,626

 
$
366,910

 
$
368,719

 
$
272,595

Fixed charges
 
38,112

 
35,638

 
40,754

 
37,107

 
30,697

Amortization of capitalized interest
 
257

 
257

 
165

 
167

 
218

Capitalized interest
 
—

 
—

 
(277
)
 
(404
)
 
(225
)
Total earnings as defined
 
$
489,784

 
$
447,521

 
$
407,552

 
$
405,589

 
$
303,285

 
 
 
 
 
 
 
 
 
 
 
Determination of Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest Expense (*)
 
$
26,544

 
$
24,073

 
$
28,704

 
$
26,055

 
$
19,910

Rents (**)
 
11,568

 
11,565

 
11,773

 
10,648

 
10,562

Capitalized interest
 
—

 
—

 
277

 
404

 
225

Total fixed charges
 
$
38,112

 
$
35,638

 
$
40,754

 
$
37,107

 
$
30,697

 
 
 
 
 
 
 
 
 
 
 
Computation of Ratio of Earnings to Fixed Charges
 
12.9

 
12.6

 
10.0

 
10.9

 
9.9


(*)
Interest expense includes the amortized premiums, discounts and capitalized expenses related to indebtedness.
(**)      
Rents included in the computation consist of one-third of rental expense.