EX-12 3 a09-1236_1ex12.htm EX-12

 

 

EXHIBIT 12

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

 

 

 

2008

 

2007

 

2006

 

2005

 

2004

 

Earnings before income taxes, equity earnings and minority interests

 

$

357.8

 

$

284.2

 

$

147.5

 

$

144.8

 

$

120.9

 

 

 

 

 

 

 

 

 

 

 

 

 

Distributed income of equity investees

 

1.5

 

3.0

 

–

 

–

 

–

 

Earnings before income taxes, equity earnings and minority interests, as adjusted

 

$

359.3

 

$

287.2

 

$

147.5

 

$

144.8

 

$

120.9

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Interest on debt

 

$

33.1

 

$

45.5

 

$

20.0

 

$

21.1

 

$

23.0

 

Interest element of rentals

 

2.7

 

2.5

 

2.2

 

2.4

 

1.8

 

Total fixed charges

 

$

35.8

 

$

48.0

 

$

22.2

 

$

23.5

 

$

24.8

 

Total adjusted earnings available for payment of fixed charges

 

$

395.1

 

$

335.2

 

$

169.7

 

$

168.3

 

$

145.7

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

11.0

 

7.0

 

7.6

 

7.2

 

5.9

 

 

 

98

SNAP-ON INCORPORATED