Attached files
file | filename |
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8-K - 8-K - STRYKER CORP | d720177d8k.htm |
EX-5.1 - EX-5.1 - STRYKER CORP | d720177dex51.htm |
EX-4.3 - EX-4.3 - STRYKER CORP | d720177dex43.htm |
EX-5.2 - EX-5.2 - STRYKER CORP | d720177dex52.htm |
EX-1.1 - EX-1.1 - STRYKER CORP | d720177dex11.htm |
EX-4.2 - EX-4.2 - STRYKER CORP | d720177dex42.htm |
Exhibit 12.1
Ratio of Earnings to Fixed Charges
Three Months Ended March 31, |
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2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||
Earnings from continuing operations before income taxes (public data) |
$ | 107.0 | $ | 1,212.0 | $ | 1,705.0 | $ | 1,686.0 | $ | 1,729.6 | ||||||||||||
Plus fixed charges: |
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Interest expense (1) |
24.3 | 83.7 | 64.0 | 57.2 | 78.1 | |||||||||||||||||
Rent interest factor (2) |
8.3 | 33.3 | 32.7 | 32.0 | 27.0 | |||||||||||||||||
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Total fixed charges: |
32.6 | 117.0 | 96.7 | 89.2 | 105.1 | |||||||||||||||||
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Earnings from continuing operations before income taxes and fixed charges |
$ | 139.6 | $ | 1,329.0 | $ | 1,801.7 | $ | 1,775.2 | $ | 1,834.7 | ||||||||||||
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Ratio of earnings to fixed charges |
4.3 | 11.4 | 18.6 | 19.9 | 17.5 | |||||||||||||||||
(1) Interest consists of interest on indebtedness, account receivable securitization program expense, amortization of fees and debt prepayment fees. |
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Interest expense on debt & credit facilities |
24.2 | 83.0 | 63.0 | 56.3 | 77.5 | |||||||||||||||||
Plus: Amortization of fees |
0.1 | 0.7 | 1.0 | 0.9 | 0.6 | |||||||||||||||||
Write-off fees due to prepayment of debt |
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A/R securitization program expense |
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Interest capitalized |
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24.3 | 83.7 | 64.0 | 57.2 | 78.1 | ||||||||||||||||||
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(2) Approximately one-third of rental expense is deemed representative of the interest factor |
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Total rental expense |
24.8 | 100.0 | 98.0 | 96.0 | 80.9 | |||||||||||||||||
Interest factor (one-third of rental expense) |
8.3 | 33.3 | 32.7 | 32.0 | 27.0 |