EX-12 2 stjude2013330_ex12q1.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES stjude 2013.3.30_ex12 Q1


EXHIBIT 12
ST. JUDE MEDICAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(amounts in millions of dollars)
 
 
Three Months Ended
 
FISCAL YEAR
 
 
March 30, 2013
 
2012
 
2011
 
2010
 
2009
 
2008
EARNINGS
 
 

 
 

 
 

 
 

 
 

 
 

Earnings before income taxes
 
$
260

 
$
1,005

 
$
1,019

 
$
1,209

 
$
1,057

 
$
581

Plus fixed charges:
 
 

 
 

 
 

 
 

 
 

 
 

Interest expense (1)
 
19

 
73

 
70

 
67

 
46

 
73

Rent interest factor (2)
 
4

 
15

 
15

 
12

 
11

 
9

TOTAL FIXED CHARGES
 
23

 
88

 
85

 
79

 
57

 
82

EARNINGS BEFORE INCOME TAXES AND FIXED CHARGES
 
$
283

 
$
1,093

 
$
1,104

 
$
1,288

 
$
1,114

 
$
663

RATIO OF EARNINGS TO FIXED CHARGES
 
12.3

 
12.4

 
13.0

 
16.3

 
19.5

 
8.1


(1)
Interest expense consists of interest on indebtedness and amortization of debt issuance costs.
(2)
Approximately one-third of rental expense is deemed representative of the interest factor.