EX-12 4 dex12.txt RATIO OF EARNING Exhibit 12 DANAHER CORPORATION STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS, EXCEPT RATIO DATA)
THREE MONTHS ENDED FULL YEAR -------------------------------------- ------------------------------------------------- March 28, 2003 March 29, 2003 2002 2001 2000 FIXED CHARGES Gross Interest expense $ 14,116 $ 12,908 $ 53,954 $ 48,147 $ 37,714 Interest Element of Rental Expense 4,662 4,163 18,648 13,986 11,655 ------------------ ------------------ ------------- -------------- --------------- Total Fixed Charges $ 18,778 $ 17,071 $ 72,602 $ 62,133 $ 49,369 ================== ================== ============= ============== =============== EARNINGS AVAILABLE FOR FIXED CHARGES: Earnings before (a) income taxes, and (b) accounting changes and reduction of income tax $ 155,077 $ 126,313 $657,468 $476,264 $ 522,924 reserves related to discontinued operations. Add fixed charges 18,778 17,071 72,602 62,133 49,369 ------------------ ------------------ ------------- -------------- --------------- Total earnings available for fixed charges $ 173,855 $ 143,384 $730,070 $538,397 $ 572,293 RATIO OF EARNINGS TO FIXED CHARGES (1) 9.3 8.4 10.1 8.7 11.6 ================== ================== ============= ============== ===============
FULL YEAR -------------------------------- 1999 1998 FIXED CHARGES Gross Interest expense $ 23,473 $ 27,724 Interest Element of Rental Expense 11,322 10,656 -------------- ---------------- Total Fixed Charges $ 34,795 $ 38,380 ============== ================ EARNINGS AVAILABLE FOR FIXED CHARGES: Earnings before (a) income taxes, and (b) accounting changes and reduction of income tax $429,562 $ 317,009 reserves related to discontinued operations. Add fixed charges 34,795 38,380 -------------- ---------------- Total earnings available for fixed charges $464,357 $ 355,389 RATIO OF EARNINGS TO FIXED CHARGES (1) 13.3 9.3 ============== ================
These Ratios include Danaher Corporation and its consolidated subsidiaries. The ratio of earnings to fixed charges was computed by dividing earnings by fixed charges for the periods indicated, where "earnings" consists of (1) earnings before (a) income taxes, and (b) accounting changes and reduction of income tax reserves related to discontinued operations, plus (2) fixed charges, and "fixed charges" consists of (A) interest, whether expensed or capitalized, on all indebtedness, (B) amortization of premiums, discounts and capitalized expenses related to indebtedness, and (C) an interest component representing the estimated portion of rental expense that management believes is attributable to interest.