EX-12 6 ex12computationofratioofea.htm EXHIBIT 12 Exhibit
EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
For the fiscal years ended December 31, 2016, January 2, 2016, January 3, 2015,
December 28, 2013 and December 29, 2012
(Millions of Dollars)

 
Fiscal Year
 
2016
 
2015
 
2014
 
2013
 
2012
Earnings from continuing operations before income taxes and non-controlling interest
$
1,226.1

 
$
1,150.8

 
$
1,084.8

 
$
587.6

 
$
533.1

Add:
 
 
 
 
 
 
 
 
 
Interest expense
194.5

 
180.4

 
177.2

 
160.1

 
144.0

Portion of rents representative of interest factor
12.6

 
12.0

 
13.6

 
14.6

 
14.4

Income as adjusted
$
1,433.2

 
$
1,343.2

 
$
1,275.6

 
$
762.3

 
$
691.5

Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
194.5

 
$
180.4

 
$
177.2

 
$
160.1

 
$
144.0

Portion of rents representative of interest factor
12.6

 
12.0

 
13.6

 
14.6

 
14.4

Fixed charges
$
207.1

 
$
192.4

 
$
190.8

 
$
174.7

 
$
158.4

Ratio of earnings to fixed charges
6.9

 
7.0

 
6.7

 
4.4

 
4.4