EX-12 3 xyl12312013ex12for10k.htm STATEMENT RE COMPUTATION OF RATIOS XYL 12.31.2013 EX 12 for 10K (1)


EXHIBIT 12

Ratio of Earnings to Fixed Charges

 
Years Ended December 31,
(In Millions Except Ratios)
2013
 
2012
 
2011(a)

 
2010(a)

 
2009(a)

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest Expense, Including Amortization of Deferred Finance Fees
$
55

 
$
55

 
$
17

 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
Interest Portion of Rental Expense (b)
25

 
24

 
21

 
18

 
16

 
 
 
 
 
 
 
 
 
 
Total Fixed Charges
80

 
79

 
38

 
18

 
16

 
 
 
 
 
 
 
 
 
 
Earnings Before Income Taxes, Discontinued Operations and Fixed Charges:
 
 
 
 
 
 
 
 
 
    
 
 
 
 
 
 
 
 
 
Pre-tax income (before income or loss from equity investees)
298

 
388

 
379

 
387

 
277

 
 
 
 
 
 
 
 
 
 
Fixed Charges
80

 
79

 
38

 
18

 
16

 
 
 
 
 
 
 
 
 
 
Total Earnings Available For Fixed Charges
$
378

 
$
467

 
$
417

 
$
405

 
$
293

 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges:
4.7

 
5.9

 
10.9

 
22.7

 
18.9


(a)
For all comparative periods presented above, these periods are prior to the Spin-off from ITT and the issuance of $1.2 billion aggregate principal amount of senior notes which were issued in September 2011. Interest on the Senior Notes accrues from September 20, 2011.

(b)
Calculated as 33% of rent expense, which is a reasonable approximation of the interest factor.