EX-12 3 c78172a1exv12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12 Hillenbrand Industries, Inc. Computation of Ratio of Earnings to Fixed Charges (dollars in millions)
TEN MONTHS FISCAL YEAR ENDED NINE MONTHS ENDED --------------------------------------------------------- ENDED JUNE SEPTEMBER 30, DECEMBER 1, DECEMBER 2, NOVEMBER 27, NOVEMBER 28, 30, 2003 2002 2001 2000 1999 1998 ------------ ------------ ------------ ------------ ------------ ------------ Income (loss) before income taxes $ 200 $ (35) $ 223 $ 240 $ 195 $ 293 Fixed charges: Interest expense (1) 15 14 23 27 27 27 Interest portion of rental expense (2) 5 5 6 7 7 7 ------------ ------------ ------------ ------------ ------------ ------------ Total fixed charges $ 20 $ 19 $ 29 $ 34 $ 34 $ 34 ============ ============ ============ ============ ============ ============ Income (loss) before income taxes plus fixed charges $ 220 $ (16) $ 252 $ 274 $ 229 $ 327 ============ ============ ============ ============ ============ ============ Ratio of earnings to fixed charges 11.0 --(3) 8.7 8.1 6.7 9.6 ============ ============ ============ ============ ============ ============
(1) - Includes interest expense, amortization of debt issuance costs and discount or premium on any indebtedness. (2) - One-third of rental expense is deemed to be interest. (3) - As a result of the loss incurred for the ten months ended September 30, 2002, earnings were insufficient to cover fixed charges by approximately $35. Earnings for this period included a litigation charge of $250 associated with Hillenbrand's settlement of its antitrust litigation with Kinetic Concepts, Inc.