Toro 2007 Annual Report Download - page 76

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EXHIBIT 12
THE TORO COMPANY AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(Not Covered by Independent Auditors' Report)
10/31/2007 10/31/2006 10/31/2005 10/31/2004 10/31/2003
Earnings before income taxes $213,227,000 $192,754,000 $170,272,000 $153,233,000 $120,918,000
Plus: Fixed charges 26,003,000 24,154,000 24,298,000 22,004,000 22,251,000
Earnings available to cover
fixed charges $239,230,000 $216,908,000 $194,570,000 $175,237,000 $143,169,000
Ratio of earnings to fixed charges 9.20 8.98 8.01 7.96 6.43
Interest expense $19,445,000 $17,672,000 $17,733,000 $15,523,000 $16,285,000
Rentals (interest expense) 6,558,000 6,482,000 6,565,000 6,481,000 5,966,000
Total fixed charges $26,003,000 $24,154,000 $24,298,000 $22,004,000 $22,251,000