Attached files
| file | filename |
|---|---|
| EX-32 - EXHIBIT 32 - Edwards Lifesciences Corp | ex-3210xk2015.htm |
| EX-31.2 - EXHIBIT 31.2 - Edwards Lifesciences Corp | ex-31210xk2015.htm |
| EX-31.1 - EXHIBIT 31.1 - Edwards Lifesciences Corp | ex-31110xk2015.htm |
| EX-21.1 - EXHIBIT 21.1 - Edwards Lifesciences Corp | ex-21110xk2015.htm |
| 10-K - 10-K - Edwards Lifesciences Corp | ew10-k2015.htm |
| EX-23 - EXHIBIT 23 - Edwards Lifesciences Corp | ew-2310xk2015.htm |
Exhibit 12.1
EDWARDS LIFESCIENCES CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Years Ended December 31, | |||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
(Dollars in millions) | |||||||||||||||||||
Earnings: | |||||||||||||||||||
Income before provision for income taxes | $ | 622.4 | $ | 1,144.0 | $ | 511.2 | $ | 388.2 | $ | 284.0 | |||||||||
Add: | |||||||||||||||||||
Fixed charges | 24.7 | 24.8 | 18.4 | 12.4 | 10.3 | ||||||||||||||
Distributed income of equity investees | 2.2 | 2.1 | — | 0.3 | — | ||||||||||||||
Earnings, as adjusted | $ | 649.3 | $ | 1,170.9 | $ | 529.6 | $ | 400.9 | $ | 294.3 | |||||||||
Fixed charges: | |||||||||||||||||||
Interest expense | $ | 15.5 | $ | 15.5 | $ | 8.9 | $ | 3.9 | $ | 2.7 | |||||||||
Amortized premiums, discounts and capitalized expenses related to indebtedness | 1.7 | 1.7 | 0.9 | 0.5 | 0.4 | ||||||||||||||
Interest portion of rental expense (a) | 7.5 | 7.6 | 8.6 | 8.0 | 7.2 | ||||||||||||||
Fixed charges | $ | 24.7 | $ | 24.8 | $ | 18.4 | $ | 12.4 | $ | 10.3 | |||||||||
Ratio of earnings to fixed charges | 26.3 | 47.1 | 28.7 | 32.4 | 28.7 | ||||||||||||||
_______________________________________________________________________________
(a) | One-third of all rental expense is deemed to be interest, which we believe to be a conservative estimate of an interest factor in our leases. |