Black & Decker 2011 Annual Report Download - page 124
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Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
For the fiscal years ended December 31, 2011, January 1, 2011, January 2, 2010,
January 3, 2009 and December 29, 2007
(Millions of Dollars)
Fiscal Year
2011
2010
2009
2008
20
07
Earnings from continuing operations before income taxes and non-
controlling interest ................................................................
..........................
$ 779.8 $ 239.8 $ 282.6 $ 285.4 $ 423.8
Add:
Interest expense ................................................................................................
....
140.3 109.9 63.7 92.0 92.6
Portion of rents representative of interest factor ................................
..................
16.2 17.9 6.2 8.6 9.2
Distributed income of equity investees ................................
................................
2.8 3.5 — — —
Income as adjusted ................................................................
...............................
$ 939.1 $ 371.1 $ 352.5 $ 386.0 $ 525.6
Fixed charges:
Interest expense ................................................................................................
....
$ 140.3 $ 109.9 $ 63.7 $ 92.0 $ 92.6
Portion of rents representative of interest factor ................................
..................
16.2 17.9 6.2 8.6 9.2
Fixed charges ................................................................................................
.......
$ 156.5 $ 127.8 $ 69.9 $ 100.6 $ 101.8
Ratio of earnings to fixed charges ................................................................
....
6.0 2.9 5.0 3.8 5.2