EX-12 4 exhibit12computationofrati.htm STATEMENT RE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12 Computation of Ratio of Earnings to Fixed Charges

Exhibit 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
For the fiscal years ended December 29, 2012, December 31, 2011, January 1, 2011,
January 2, 2010 and January 3, 2009
(Millions of Dollars)

 
Fiscal Year
 
2012
 
2011
 
2010
 
2009
 
2008
Earnings from continuing operations before income taxes and non-controlling interest
$
527.6

 
$
648.4

 
$
168.6

 
$
258.8

 
$
268.2

Add:
 
 
 
 
 
 
 
 
 
Interest expense
144.2

 
140.4

 
109.8

 
63.7

 
92.0

Portion of rents representative of interest factor
14.8

 
14.9

 
17.8

 
6.2

 
8.6

Distributed income of equity investees
—

 
2.8

 
3.5

 
—

 
—

Income as adjusted
$
686.6

 
$
806.5

 
$
299.7

 
$
328.7

 
$
368.8

Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
144.2

 
$
140.4

 
$
109.8

 
$
63.7

 
$
92.0

Portion of rents representative of interest factor
14.8

 
14.9

 
17.8

 
6.2

 
8.6

Fixed charges
$
159.0

 
$
155.3

 
$
127.6

 
$
69.9

 
$
100.6

Ratio of earnings to fixed charges
4.3

 
5.2

 
2.3

 
4.7

 
3.7