Attached files
| file | filename |
|---|---|
| EX-1.1 - EX-1.1 - FLOWSERVE CORP | d890668dex11.htm |
| EX-4.2 - EX-4.2 - FLOWSERVE CORP | d890668dex42.htm |
| EX-5.1 - EX-5.1 - FLOWSERVE CORP | d890668dex51.htm |
| 8-K - 8-K - FLOWSERVE CORP | d890668d8k.htm |
EXHIBIT 12.1
Statement Regarding Computation of
Ratio of Earnings to Fixed Charges
| Year ended December 31, | ||||||||||||||||||||
| (dollar amounts in thousands) | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||
| EARNINGS: |
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| Income from continuing operations before income taxes and noncontrolling interests |
$ | 733,189 | $ | 693,021 | $ | 611,565 | $ | 587,755 | $ | 530,276 | ||||||||||
| Fixed charges |
84,205 | 79,172 | 67,704 | 59,742 | 56,660 | |||||||||||||||
| Less: |
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| Undistributed income from affiliates |
(6,704 | ) | (18,922 | ) | (8,523 | ) | (5,200 | ) | (10,350 | ) | ||||||||||
| Non-controlling interest in pretax income of subsidiaries that have not incurred fixed charges |
(297 | ) | (657 | ) | (515 | ) | (482 | ) | (173 | ) | ||||||||||
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| Adjusted earnings |
$ | 810,393 | $ | 752,614 | $ | 670,229 | $ | 641,815 | $ | 576,414 | ||||||||||
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| FIXED CHARGES: |
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| Interest on indebtedness |
60,322 | 54,413 | 43,520 | 36,181 | 34,301 | |||||||||||||||
| Interest portion of rent expense |
23,883 | 24,759 | 24,184 | 23,561 | 22,359 | |||||||||||||||
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| Total fixed charges |
$ | 84,205 | $ | 79,172 | $ | 67,704 | $ | 59,742 | $ | 56,660 | ||||||||||
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| Ratio of earnings to fixed charges |
9.6 | 9.5 | 9.9 | 10.7 | 10.2 | |||||||||||||||