Danaher 2009 Annual Report Download - page 386

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Exhibit 12.1
DANAHER CORPORATION AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
($ IN THOUSANDS, EXCEPT RATIO DATA)
2005 2006 2007 2008 2009
Fixed Charges:
Gross Interest Expense $44,540 $79,375 $ 109,702 $130,174 $122,656
Interest Element of Rental Expense 10,744 12,369 14,804 10,763 13,135
Interest on FIN 48 liabilities — — — — —
Total Fixed Charges $55,284 $ 91,744 $124,506 $140,937 $135,791
Earnings Available for Fixed Charges:
Earnings from Continuing Operations before income taxes $1,217,742 $1,428,843 $1,637,099 $1,749,307 $ 1,424,854
Add fixed charges 55,284 91,744 124,506 140,937 135,791
Interest on FIN 48 liabilities — — — — —
Total Earnings Available for Fixed Charges $1,273,026 $1,520,587 $1,761,605 $1,890,244 $1,560,645
Ratio of Earnings to Fixed Charges 23.0 16.6 14.1 13.4 11.5
NOTE: These Ratios include Danaher Corporation and its consolidated subsidiaries. The ratio of earnings to fixed charges was computed by dividing
earnings by fixed charges for the periods indicated, where “earnings” consist of (1) earnings from continuing operations before incomes taxes plus (2) fixed
charges, and “fixed charges” consist of (a) interest, whether expensed or capitalized, on all indebtedness, (b) amortization of premiums, discounts and
capitalized expenses related to indebtedness, and (c) an interest component representing the estimated portion of rental expense that management believes is
attributable to interest. Interest on FIN 48 liabilities is included in the tax provision in the Company’s Consolidated Condensed Statements of Earnings and is
excluded from the computation of fixed charges.
Source: DANAHER CORP /DE/, 10-K, February 24, 2010 Powered by Morningstar® Document Research℠
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