EX-12 9 y54460ex12.txt COMPUTATION OF RATIO OF EARNINGS EXHIBIT 12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ROCKWELL INTERNATIONAL CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
FISCAL YEAR ENDED SEPTEMBER 30, -------------------------------------------- 2001 2000 1999 1998 1997 ---- ---- ---- ---- ---- Earnings Available for Fixed Charges: Income from continuing operations before income taxes............................................... $168 $507 $438 $(67) $503 Adjustments: Undistributed loss (income) of affiliates............. 1 5 (2) (3) (7) Minority interest in loss of subsidiaries............. (1) 2 2 -- (4) ---- ---- ---- ---- ---- 168 514 438 (70) 492 ---- ---- ---- ---- ---- Add fixed charges included in earnings: Interest expense...................................... 83 73 84 58 27 Interest element of rentals........................... 41 46 43 43 43 ---- ---- ---- ---- ---- Total............................................. 124 119 127 101 70 ---- ---- ---- ---- ---- Total earnings available for fixed charges............ $292 $633 $565 $ 31 $562 ==== ==== ==== ==== ==== Fixed charges: Fixed charges included in earnings.................... $124 $119 $127 $101 $ 70 Capitalized interest.................................. -- 1 1 9 8 ---- ---- ---- ---- ---- Total fixed charges................................... $124 $120 $128 $110 $ 78 ==== ==== ==== ==== ==== Ratio of earnings to Fixed Charges(1)................... 2.4 5.3 4.4 0.3 7.2 ==== ==== ==== ==== ====
--------------- (1) In computing the ratio of earnings to fixed charges, earnings are defined as income from continuing operations before income taxes, adjusted for minority interest in income or loss of subsidiaries, undistributed earnings of affiliates, and fixed charges exclusive of capitalized interest. Fixed charges consist of interest on borrowings and that portion of rentals deemed representative of the interest factor.