EX-12 6 exhibit1201032015.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12 01.03.2015


EXHIBIT 12
ST. JUDE MEDICAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(amounts in millions of dollars)

 
 
FISCAL YEAR
 
 
2014
 
2013
 
2012
 
2011
 
2010
EARNINGS
 
 

 
 

 
 

 
 

 
 

Earnings before noncontrolling interest and income taxes
 
$
1,068

 
$
784

 
$
1,005

 
$
1,019

 
$
1,208

Plus fixed charges:
 
 

 
 

 
 

 
 

 
 

Interest expense (1)
 
85

 
81

 
73

 
70

 
67

Rent interest factor (2)
 
17

 
12

 
15

 
15

 
12

TOTAL FIXED CHARGES
 
102

 
93

 
88

 
85

 
79

EARNINGS BEFORE NONCONTROLLING INTEREST, INCOME TAXES AND FIXED CHARGES
 
$
1,170

 
$
877

 
$
1,093

 
$
1,104

 
$
1,287

RATIO OF EARNINGS TO FIXED CHARGES
 
11.5

 
9.4

 
12.4

 
13.0

 
16.3


(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.