Danaher 2010 Annual Report Download - page 120

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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)
2006 2007 2008 2009 2010
Fixed Charges:
Gross Interest Expense $79,375 $ 109,702 $130,174 $122,656 $120,775
Interest Element of Rental Expense 12,369 14,804 10,763 13,135 15,162
Interest on FIN 48 liabilities — — — — —
Total Fixed Charges $ 91,744 $124,506 $140,937 $135,791 $135,937
Earnings Available for Fixed Charges:
Earnings from Continuing Operations before income taxes $1,428,843 $1,637,099 $1,749,307 $ 1,424,854 $2,319,938
Add Fixed Charges 91,744 124,506 140,937 135,791 135,937
Interest on FIN 48 liabilities — — — — —
Total Earnings Available for Fixed Charges $1,520,587 $1,761,605 $1,890,244 $1,560,645 $2,455,875
Ratio of Earnings to Fixed Charges 16.6 14.1 13.4 11.5 18.1
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 (excluding earnings from 50% owned
affiliates) before income 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.
118
Source: DANAHER CORP /DE/, 10-K, February 24, 2011 Powered by Morningstar® Document Research℠
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