EX-12.01 7 px-20171231xex1201.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


 
 
 
 
 
 
 
 
 
 
RATIO OF EARNINGS TO FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
 
 
Praxair, Inc. and Subsidiaries
 
 
 
 
 
 
 
 
Exhibit 12.01
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31,
(Dollar amounts in millions, except ratios)
2017
 
2016
 
2015
 
2014
 
2013
 
 
 
 
 
 
 
 
 
 
Pre-tax income from continuing operations before adjustment for
 
 
 
 
 
 
 
 
 
   noncontrolling interests in consolidated subsidiaries or income or
 
 
 
 
 
 
 
 
 
   loss from equity investees
$
2,287

 
$
2,048

 
$
2,160

 
$
2,395

 
$
2,447

      Capitalized interest
(28
)
 
(34
)
 
(33
)
 
(38
)
 
(69
)
      Depreciation of capitalized interest
17

 
19

 
22

 
27

 
20

      Dividends from less than 50%-owned companies carried at equity
111

 
8

 
11

 
6

 
10

Adjusted pre-tax income from continuing operations before adjustment
 
 
 
 
 
 
 
 
 
   for noncontrolling interests in consolidated subsidiaries or income
 
 
 
 
 
 
 
 
 
    or loss from equity investees
$
2,387

 
$
2,041

 
$
2,160

 
$
2,390

 
$
2,408

Fixed charges
 
 
 
 
 
 
 
 
 
   Interest on long-term and short-term debt
$
161

 
$
190

 
$
161

 
$
213

 
$
178

   Capitalized interest
28

 
34

 
33

 
38

 
69

   Rental expenses representative of an interest factor
49

 
47

 
47

 
52

 
43

Total fixed charges
$
238

 
$
271

 
$
241

 
$
303

 
$
290

 
 
 
 
 
 
 
 
 
 
Adjusted pre-tax income from continuing operations before adjustment
 
 
 
 
 
 
 
 
 
  for noncontrolling interests in consolidated subsidiaries or income or
 
 
 
 
 
 
 
 
 
  loss from equity investees plus total fixed charges
$
2,625

 
$
2,312

 
$
2,401

 
$
2,693

 
$
2,698

RATIO OF EARNINGS TO FIXED CHARGES
11.0

 
8.5

 
10.0

 
8.9

 
9.3