Black & Decker 2012 Annual Report Download - page 146

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132
Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
For the fiscal years ended December 29, 2012, December 31, 2011, January 1, 2011,
January 2, 2010 and January 3, 2009
(Millions of Dollars)
Fiscal Year
2012
2011
2010
2009
2008
Earnings from continuing operations before income
taxes and non
-
controlling interest
……………………...
$
527.6
$
648.4
$
168.6
$
258.8
$
268.2
Add:
Interest expense
………………………………………...
144.2
140.4
109.8
63.7
92.0
Portion of rents representative of interest factor
……….
14.8
14.9
17.8
6.2
8.6
Distributed income of equity investees
………………...
—
2.8
3.5
—
—
Income as adjusted
……………………………………..
$
686.6
$
806.5
$
299.7
$
328.7
$
368.8
Fixed charges:
Interest expense
………………………………………...
$
144.2
$
140.4
$
109.8
$
63.7
$
92.0
Portion of rents representative of interest factor
……….
14.8
14.9
17.8
6.2
8.6
Fixed charges
…………………………………………...
$
159.0
$
155.3
$
127.6
$
69.9
$
100.6
Ratio of earnings to fixed charges……………………
4.3
5.2
2.3
4.7
3.7