EX-12 5 col_exhibitx12x9302015.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


Exhibit 12
 
ROCKWELL COLLINS, INC.
 
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
YEAR ENDED SEPTEMBER 30, 2015
(in millions, except ratio)
  
 
 
2015 (2)
 
2014 (2)
 
2013 (2)
 
2012 (2)
 
2011 (2)
Earnings available for fixed charges:
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes
 
$
962

 
$
882

 
$
865

 
$
832

 
$
824

Add / (Deduct):
 
 
 
 
 
 
 
 
 
 
Earnings from equity affiliates, net of distributions
 
1

 
14

 
(3
)
 
(8
)
 
—

Gain on sale of equity affiliate
 
—

 
—

 
—

 
—

 
(3
)
 
 
963

 
896

 
862

 
824

 
821

Add fixed charges included in earnings:
 
 
 
 
 
 
 
 
 
 
Interest expense
 
61

 
59

 
28

 
27

 
19

Interest element of rentals
 
25

 
22

 
23

 
24

 
24

Total earnings available for fixed charges
 
$
1,049

 
$
977

 
$
913

 
$
875

 
$
864

Fixed charges:
 
 
 
 
 
 
 
 
 
 
Fixed charges included in earnings
 
$
86

 
$
81

 
$
51

 
$
51

 
$
43

Capitalized interest
 
—

 
—

 
—

 
—

 
—

Total fixed charges
 
$
86

 
$
81

 
$
51

 
$
51

 
$
43

Ratio of earnings to fixed charges (1)
 
12

 
12

 
18

 
17

 
20


(1)  In computing the ratio of earnings to fixed charges, earnings are defined as income from continuing operations 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.

(2) Certain prior period information has been reclassified to conform to the current year presentation and to reflect the results of discontinued operations.