EX-12 2 stjude090797_ex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Exhibit 12

ST. JUDE MEDICAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FISCAL YEAR

 

 

 

2008

 

2007

 

2006

 

2005

 

2004

 

EARNINGS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before income taxes

 

$

630,741

 

$

744,305

 

$

720,641

 

$

621,404

 

$

537,192

 

 

Plus fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense (1)

 

 

22,581

 

 

38,229

 

 

33,883

 

 

10,028

 

 

4,810

 

Rent interest factor (2)

 

 

9,527

 

 

9,144

 

 

8,190

 

 

7,659

 

 

5,778

 

TOTAL FIXED CHARGES

 

 

32,108

 

 

47,373

 

 

42,073

 

 

17,687

 

 

10,588

 

 

EARNINGS BEFORE INCOME TAXES AND FIXED CHARGES

 

$

662,849

 

$

791,678

 

$

762,714

 

$

639,091

 

$

547,780

 

RATIO OF EARNINGS TO FIXED CHARGES

 

 

20.6

 

 

16.7

 

 

18.1

 

 

36.1

 

 

51.7

 

 

 

(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.