EX-12 6 exhibit12smg930201710kfy17.htm EXHIBIT 12 Exhibit


Exhibit 12
The Scotts Miracle-Gro Company
Computation of Ratio of Earnings to Fixed Charges

($ IN MILLIONS)
 
 
2017
 
2016
 
2015
 
2014
 
2013
Income from continuing operations before income taxes
 
$
314.9

 
$
383.7

 
$
205.0

 
$
206.1

 
$
224.7

Fixed charges
 
94.1

 
80.3

 
65.3

 
60.8

 
68.1

Other (1)   
 
33.1

 
0.2

 
0.6

 
(5.2
)
 
1.0

Interest capitalized
 
(0.1
)
 
(0.3
)
 
(0.4
)
 
(0.4
)
 
(0.7
)
Total adjusted earnings available for payment of fixed charges
 
$
442.0

 
$
463.9

 
$
270.5

 
$
261.3

 
$
293.1

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest expense (2)   
 
$
76.1

 
$
62.9

 
$
48.8

 
$
46.5

 
$
57.3

Interest capitalized
 
0.1

 
0.3

 
0.4

 
0.4

 
0.7

Rental expense representative of interest factor
 
17.9

 
17.1

 
16.1

 
13.9

 
10.1

Total Fixed Charges
 
$
94.1

 
$
80.3

 
$
65.3

 
$
60.8

 
$
68.1

Ratio of Earnings to Fixed Charges
 
4.7

 
5.8

 
4.1

 
4.3

 
4.3


(1)
Includes amortization of capitalized interest, adjustments for non-controlling interests in consolidated subsidiaries and distributed earnings of equity investees. Interest expense recorded on tax exposures has been recorded in income tax expense and has therefore been excluded from the calculation.
(2)
Includes amortization of deferred financing and issuance costs related to indebtedness.