Danaher 2012 Annual Report Download - page 146

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Exhibit 12.1
Danaher Corporation
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
(In millions, except ratio data)
Year Ended December 31
2008
2009
2010
2011
2012
Fixed Charges:
Gross Interest Expense $125.2
$118.7
$117.1
$ 141.6
$157.5
Interest Element of Rental Expense 10.7
13.1
15.2
19.9
22.3
Interest on Unrecognized Tax Benefits —
—
—
—
—
Total Fixed Charges $135.9
$131.8
$132.3
$161.5
$179.8
Earnings Available for Fixed Charges:
Earnings from Continuing Operations Before Income
Taxes $1,642.9
$1,326.1
$2,229.6
$2,447.8
$3,010.8
Add Fixed Charges 135.9
131.8
132.3
161.5
179.8
Interest on Unrecognized Tax Benefits —
—
—
—
—
Total Earnings Available for Fixed Charges $1,778.8
$1,457.9
$2,361.9
$2,609.3
$3,190.6
Ratio of Earnings to Fixed Charges 13.1
11.1
17.8
16.2
17.7
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 unrecognized tax benefits is included in the tax
provision in the Company's Consolidated Statements of Earnings and is excluded from the computation of fixed charges.
Source: DANAHER CORP /DE/, 10-K, February 22, 2013 Powered by Morningstar® Document Research℠
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