EX-12 11 w95011exv12.txt COMPUTATION RATIO OF EARNINGS EXHIBIT 12 AMETEK, INC. STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (DOLLARS IN THOUSANDS)
2003 2002 2001 2000 1999 --------- --------- --------- --------- --------- EARNINGS: Net income $ 87,815 $ 83,698 $ 66,111 $ 68,532 $ 60,768 Income tax expense 42,272 39,200 18,251 37,606 33,693 Interest expense - gross 26,063 25,498 28,505 29,460 25,396 Capitalized interest (46) (317) (592) (257) (620) Interest portion of rental expense 2,998 2,839 2,982 2,713 2,307 --------- --------- --------- --------- --------- Adjusted earnings $ 159,102 $ 150,918 $ 115,257 $ 138,054 $ 121,544 ========= ========= ========= ========= ========= FIXED CHARGES: Interest expense, net of capitalized interest $ 26,017 $ 25,181 $ 27,913 $ 29,203 $ 24,776 Capitalized interest 46 317 592 257 620 Interest portion of rental expense 2,998 2,839 2,982 2,713 2,307 --------- --------- --------- --------- --------- Fixed charges $ 29,061 $ 28,337 $ 31,487 $ 32,173 $ 27,703 ========= ========= ========= ========= ========= Ratio of adjusted earnings to fixed charges --------- --------- --------- --------- --------- 5.5x 5.3x 3.7x 4.3x 4.4x ========= ========= ========= ========= =========