Danaher 2011 Annual Report Download - page 253

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Exhibit 12.1
Danaher Corporation
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
(In Thousands, except ratio data)
Year Ended December 31
2007 2008 2009 2010 2011
Fixed Charges:
Gross Interest Expense 106,289 125,175 118,654 117,167 141,637
Interest Element of Rental Expense 14,804 10,763 13,135 15,162 19,840
Interest on FIN 48 liabilities — — — — —
Total Fixed Charges $ 121,093 $135,938 $131,789 $ 132,329 $161,477
Earnings Available for
Fixed Charges:
Earnings from Continuing Operations before income taxes 1,326,062 1,642,887 1,326,062 2,229,559 2,447,849
Add fixed charges 121,093 135,938 131,789 132,329 161,477
Interest on FIN 48 liabilities — — — — —
Total Earnings Available for Fixed Charges $1,447,155 $1,778,825 $1,457,851 $2,361,888 $2,609,326
Ratio of Earnings to Fixed Charges 12.0 13.1 11.1 17.8 16.2
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.
Source: DANAHER CORP /DE/, 10-K, February 24, 2012 Powered by Morningstar® Document Research℠
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