EX-12 2 stjude115853_ex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Exhibit 12

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FISCAL YEAR

 

 

 

2011

 

2010

 

2009

 

2008

 

2007

 

EARNINGS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before income taxes

 

$

1,019,071

 

$

1,208,803

 

$

1,057,393

 

$

580,768

 

$

710,276

 

Plus fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense (1)

 

 

69,954

 

 

67,372

 

 

45,603

 

 

72,554

 

 

72,258

 

Rent interest factor (2)

 

 

14,856

 

 

12,113

 

 

11,183

 

 

9,527

 

 

9,144

 

TOTAL FIXED CHARGES

 

 

84,810

 

 

79,485

 

 

56,786

 

 

82,081

 

 

81,402

 

EARNINGS BEFORE INCOME TAXES AND FIXED CHARGES

 

$

1,103,881

 

$

1,288,288

 

$

1,114,179

 

$

662,849

 

$

791,678

 

RATIO OF EARNINGS TO FIXED CHARGES

 

 

13.0

 

 

16.2

 

 

19.6

 

 

8.1

 

 

9.7

 

 

 

 

 

(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.