EX-12.1 8 exhibit121111.htm EXHIBIT Exhibit 12.1 (1) (1) (1)


DENTSPLY International Inc.
 
 
 
 
 
 
 
 
 
 
Computation of Ratios of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
 
Exhibit 12.1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(in thousands except ratios)
 
Year Ended December 31,
 
 
2014
 
2013
 
2012
 
2011
 
2010
Consolidated Earnings:
 
 
 
 
 
 
 
 
 
 
  Pre-tax income from continuing operations
 
$
404,373

 
$
369,335

 
$
330,679

 
$
256,111

 
$
357,656

  before adjustment for income or loss from
 
 
 
 
 
 
 
 
 
 
  equity interests
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Add fixed charges computed below
 
69,709

 
72,717

 
82,186

 
66,761

 
37,172

 
 
 
 
 
 
 
 
 
 
 
  Net adjustments for capitalized interest
 
79

 
16

 
52

 
52

 
43

 
 
 
 
 
 
 
 
 
 
 
Consolidated Earnings Available for Fixed Charges
 
$
474,161

 
$
442,068

 
$
412,917

 
$
322,924

 
$
394,871

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consolidated Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Interest expense per financial statements (a)
 
$
46,910

 
$
49,625

 
$
56,851

 
$
43,814

 
$
25,089

 
 
 
 
 
 
 
 
 
 
 
  Interest expense - capitalized
 
241

 
160

 
60

 
132

 
22

 
 
 
 
 
 
 
 
 
 
 
  Amortization of deferred financing
 
4,607

 
4,984

 
7,045

 
8,023

 
428

 
 
 
 
 
 
 
 
 
 
 
One-third of rental expense representing reasonable approximation of the interest factor
 
17,951

 
17,948

 
18,230

 
14,792

 
11,633

 
 
 
 
 
 
 
 
 
 
 
Consolidated Fixed Charges
 
$
69,709

 
$
72,717

 
$
82,186

 
$
66,761

 
$
37,172

 
 
 
 
 
 
 
 
 
 
 
Consolidated Ratio of Earnings to Fixed Charges
 
6.80

 
6.08

 
5.02

 
4.84

 
10.62

 
 
 
 

 

 

 

(a) Does not include interest related to uncertain tax positions.