EX-12 2 exhibit12.htm RATIO OF EARNINGS TO FIXED CHARGES exhibit12.htm
Exhibit 12
 
Pall Corporation and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(amounts in thousands, except ratios)
 
    Fiscal Year Ended
       July 31, 2011      July 31, 2010      July 31, 2009      July 31, 2008      July 31, 2007
Determination of Earnings:                                    
       Earnings before income taxes   $ 419,522     $ 327,721     $ 270,786     $ 325,555   $ 260,529
       Fixed charges     37,746       31,335       47,887       61,210     65,392
       Amortization of capitalized interest     167       218       246       342     476
       Capitalized interest     (404 )     (225 )     (489 )     -     -
              Total earnings as defined   $         457,031     $         359,049     $         318,430     $ 387,107   $ 326,397
 
Determination of Fixed Charges:                                    
       Interest Expense (*)   $ 26,055     $ 19,910     $ 36,864     $ 50,937   $ 56,837
       Rents (**)     11,287       11,200       10,534       10,273     8,555
       Capitalized interest     404       225       489       -     -
              Total fixed charges   $ 37,746     $ 31,335     $ 47,887     $ 61,210   $ 65,392
 
Computation of Ratio of Earnings to                                    
       Fixed Charges     12.1       11.5       6.6       6.3     5.0
                                     
        (*) 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.