EXHIBIT 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

	2013		2012		2011		2010		2009
Earnings before income taxes and equity earnings	$	526.2	$	460.2	$	412.9	$	277.4	$	205.3
Distributed income of equity investees		–		–		5.0		2.0		–
Earnings before income taxes and equity earnings, as adjusted	$	526.2	$	460.2	$	417.9	$	279.4	$	205.3
Fixed charges:
Interest on debt	$	55.3	$	55.2	$	60.4	$	54.1	$	47.0
Interest element of rentals		2.7		2.4		2.7		2.7		2.9
Total fixed charges	$	58.0	$	57.6	$	63.1	$	56.8	$	49.9
Total adjusted earnings available for payment of fixed charges	$	584.2	$	517.8	$	481.0	$	336.2	$	255.2
Ratio of earnings to fixed charges		10.1		9.0		7.6		5.9		5.1

116 SNAP-ON INCORPORATED