DANAHER CORP /DE/ - FORM 10-K - EX-12.1 - CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES - February 21, 2017

Attached files

file filename
EX-10.21 - NON-MANAGEMENT DIRECTOR COMPENSATION ARRANGEMENTS - DANAHER CORP /DE/dhr-20161231xexx1021.htm
EX-32.2 - CERTIFICATION OF CFO PURSUANT TO SECTION 906 - DANAHER CORP /DE/dhr-20161231xexx322.htm
EX-32.1 - CERTIFICATION OF CEO PURSUANT TO SECTION 906 - DANAHER CORP /DE/dhr-20161231xexx321.htm
EX-31.2 - CERTIFICATION OF CFO PURSUANT TO SECTION 302 - DANAHER CORP /DE/dhr-20161231xexx312.htm
EX-31.1 - CERTIFICATION OF CEO PURSUANT TO SECTION 302 - DANAHER CORP /DE/dhr-20161231xexx311.htm
EX-23.1 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - DANAHER CORP /DE/dhr-20161231xexx231.htm
EX-21.1 - SUBSIDARIES OF THE REGISTRANT - DANAHER CORP /DE/dhr-20161231xexx211.htm
EX-10.20 - FORM OF AGREEMENT REGARDING COMPETITION & PROPRIETARY INTERESTS - DANAHER CORP /DE/dhr-20161231xexx1020.htm
EX-10.19 - LETTER AGREEMENT - DANAHER CORP /DE/dhr-20161231xexx1019.htm
EX-10.18 - FORM OF AGREEMENT REGARDING COMPETITION & PROPRIETARY INTERESTS - DANAHER CORP /DE/dhr-20161231xexx1018.htm
EX-10.16 - FORM OF AGREEMENT REGARDING COMPETITION & PROPRIETARY INTERESTS - DANAHER CORP /DE/dhr-20161231xexx1016.htm
EX-10.7 - 2007 STOCK INCENTIVE PLAN RSU AGREEMENT - DANAHER CORP /DE/dhr-20161231xexx107.htm
EX-10.6 - 2007 STOCK INCENTIVE PLAN STOCK OPTION AGREEMENT - DANAHER CORP /DE/dhr-20161231xexx106.htm
10-K - 10-K - DANAHER CORP /DE/dhr-20161231x10xk.htm


Exhibit 12.1

DANAHER CORPORATION AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
($ in millions, except ratio data)
 
Year Ended December 31
 
2016
 
2015
 
2014
 
2013
 
2012
Fixed Charges:
 
 
 
 
 
 
 
 
 
Gross Interest Expense (including amounts allocated to discontinued operations)
$
204.1

 
$
162.8

 
$
119.1

 
$
141.2

 
$
152.6

Interest Element of Rental Expense
10.0

 
14.0

 
12.9

 
12.7

 
12.3

Interest on Unrecognized Tax Benefits
—

 
—

 
—

 
—

 
—

Total Fixed Charges
$
214.1

 
$
176.8

 
$
132.0

 
$
153.9

 
$
164.9

 
 
 
 
 
 
 
 
 
 
Earnings Available for Fixed Charges:
 
 
 
 
 
 
 
 
 
Earnings From Continuing Operations (Excluding Earnings from Equity Investees) Before Income Taxes Plus Distributed Income of Equity Investees
$
2,611.3

 
$
2,039.4

 
$
2,086.2

 
$
2,249.4

 
$
1,664.0

Add Fixed Charges
214.1

 
176.8

 
132.0

 
153.9

 
164.9

Interest on Unrecognized Tax Benefits
—

 
—

 
—

 
—

 
—

Total Earnings Available for Fixed Charges
$
2,825.4

 
$
2,216.2

 
$
2,218.2

 
$
2,403.3

 
$
1,828.9

 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
13.2

 
12.5

 
16.8

 
15.6

 
11.1

 
 
 
 
 
 
 
 
 
 
NOTE:  These ratios include Danaher Corporation and its consolidated subsidiaries. The ratio of earnings to fixed charges was computed by dividing earnings by fixed charges for the periods indicated, where “earnings” consist of (1) earnings from continuing operations (excluding earnings from equity investees) before income taxes plus distributed income of equity investees; plus (2) fixed charges, and “fixed charges” consist of (A) interest, whether expensed or capitalized, on all indebtedness, (B) amortization of premiums, discounts and capitalized expenses related to indebtedness, and (C) an interest component representing the estimated portion of rental expense that management believes is attributable to interest. Interest on unrecognized tax benefits is included in the tax provision in the Company's Consolidated Statements of Earnings and is excluded from the computation of fixed charges.



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