EX-12 4 a2189301zex-12.htm EX-12

Exhibit 12

 

ROCKWELL COLLINS, INC.

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

YEAR ENDED SEPTEMBER 30, 2008

(in millions, except ratio)

 

 

 

2008

 

2007

 

2006

 

2005

 

2004

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings available for fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

$

953

 

$

843

 

$

689

 

$

547

 

$

430

 

 

 

 

 

 

 

 

 

 

 

 

 

Add / (Deduct):

 

 

 

 

 

 

 

 

 

 

 

Earnings from equity affiliates, net of distributions

 

1

 

(19

)

2

 

(3

)

(3

)

Gain on sale of equity affiliate

 

—

 

—

 

(20

)

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

954

 

824

 

671

 

544

 

427

 

Add fixed charges included in earnings:

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

21

 

13

 

13

 

11

 

8

 

Interest element of rentals

 

16

 

9

 

9

 

8

 

9

 

 

 

 

 

 

 

 

 

 

 

 

 

Total earnings available for fixed charges

 

$

991

 

$

846

 

$

693

 

$

563

 

$

444

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Fixed charges included in earnings

 

$

37

 

$

22

 

$

22

 

$

19

 

$

17

 

Capitalized Interest

 

—

 

1

 

—

 

—

 

—

 

Total fixed charges

 

$

37

 

$

23

 

$

22

 

$

19

 

$

17

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges (1)

 

27

 

37

 

32

 

30

 

26

 

 

(1)

In computing the ratio of earnings to fixed charges, earnings are defined as income before income taxes, adjusted for income or loss attributable to minority interests in subsidiaries, undistributed earnings of less than majority owned subsidiaries, and fixed charges excluding capitalized interest. Fixed charges are defined as interest on borrowings (whether expensed or capitalized) and that portion of rental expense applicable to interest. Our ratio of earnings to combined fixed charges and preferred stock dividends for the period above are the same as our ratio of earnings to fixed charges because we had no shares of preferred stock outstanding for the period presented and currently have no shares of preferred stock outstanding.