EX-12 2 xls-2013930xex12q3.htm EXHIBIT 12 XLS-2013.9.30-EX12 (Q3)

EXHIBIT 12
EXELIS INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
Nine months ended September 30,
 
Year Ended December 31,  
(IN MILLIONS, EXCEPT RATIO)
2013
 
2012
2011
2010
2009
2008
Earnings
 
 
 
 
 
 
 
Income from continuing operations before income tax expense
$
304

 
$
521

$
537

$
696

$
700

$
657

Add Fixed Charges
 
 
 
 
 
 
 
Interest expense
28

 
38

10

—

1

2

Interest component of rental expense (a)
12

 
16

15

14

14

13

Total earnings available for fixed charges
$
344

 
$
575

$
562

$
710

$
715

$
672

Total Fixed Charges
$
40

 
$
54

$
25

$
14

$
15

$
15

Ratio of earnings to fixed charges
8.6

 
10.6

22.5

50.7

47.7

44.8

(a)
Represents the portion of operating leases which management believes is a reasonable representation of an interest factor.