Attached files
EXHIBIT 12
ST. JUDE MEDICAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(amounts in millions of dollars)
FISCAL YEAR | ||||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
EARNINGS | ||||||||||||||||||||
Earnings before noncontrolling interest and income taxes | $ | 1,068 | $ | 784 | $ | 1,005 | $ | 1,019 | $ | 1,208 | ||||||||||
Plus fixed charges: | ||||||||||||||||||||
Interest expense (1) | 85 | 81 | 73 | 70 | 67 | |||||||||||||||
Rent interest factor (2) | 17 | 12 | 15 | 15 | 12 | |||||||||||||||
TOTAL FIXED CHARGES | 102 | 93 | 88 | 85 | 79 | |||||||||||||||
EARNINGS BEFORE NONCONTROLLING INTEREST, INCOME TAXES AND FIXED CHARGES | $ | 1,170 | $ | 877 | $ | 1,093 | $ | 1,104 | $ | 1,287 | ||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 11.5 | 9.4 | 12.4 | 13.0 | 16.3 |
(1) | Interest expense consists of interest on indebtedness and amortization of debt issuance costs. |
(2) | Approximately one-third of rental expense is deemed representative of the interest factor. |