EX-12 3 col_exhibitx12x9302017.htm STATEMENT RE: 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, 2017
(in millions, except ratio)
  
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings available for fixed charges:
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes
$
931

 
$
935

 
$
962

 
$
882

 
$
865

Add / (Deduct):
 
 
 
 
 
 
 
 
 
Earnings from equity affiliates, net of distributions
3

 
3

 
1

 
14

 
(3
)
 
934

 
938

 
963

 
896

 
862

Add fixed charges included in earnings:
 
 
 
 
 
 
 
 
 
Interest expense
187

 
64

 
61

 
59

 
28

Interest element of rentals
28

 
26

 
25

 
22

 
23

Total earnings available for fixed charges
$
1,149

 
$
1,028

 
$
1,049

 
$
977

 
$
913

Fixed charges:
 
 
 
 
 
 
 
 
 
Fixed charges included in earnings
$
215

 
$
90

 
$
86

 
$
81

 
$
51

Capitalized interest
—

 
—

 
—

 
—

 
—

Total fixed charges
$
215

 
$
90

 
$
86

 
$
81

 
$
51

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges (1)
5

 
11

 
12

 
12

 
18


(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.