EX-12 4 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

EXHIBIT 12

 

LEGGETT AND PLATT, INCORPORATED AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Amounts in millions of dollars)

 

     Six Months
Ended


   Twelve Months Ended
December 31,


     6/30/05

   6/30/04

   2004

   2003

   2002

   2001

   2000

Earnings

                                                

Income from continuing operations before income tax

   $ 225.9    $ 209.4    $ 422.6    $ 315.1    $ 363.5    $ 297.3    $ 418.6

Interest expense (excluding amount capitalized)

     22.0      23.8      45.9      46.9      42.1      58.8      66.3

Portion of rental expense under operating leases representative of an interest factor

     7.6      7.2      13.3      12.5      11.2      10.6      9.4
    

  

  

  

  

  

  

Total earnings

   $ 255.5    $ 240.4    $ 481.8    $ 374.5    $ 416.8    $ 366.7    $ 494.3
    

  

  

  

  

  

  

Fixed charges

                                                

Interest expense (including amount capitalized)

   $ 22.6    $ 24.3    $ 46.9    $ 48.0    $ 43.3    $ 60.2    $ 67.7

Portion of rental expense under operating leases representative of an interest factor

     7.6      7.2      13.3      12.5      11.2      10.6      9.4
    

  

  

  

  

  

  

Total fixed charges

   $ 30.2    $ 31.5    $ 60.2    $ 60.5    $ 54.5    $ 70.8    $ 77.1
    

  

  

  

  

  

  

Ratio of earnings to fixed charges

     8.5      7.6      8.0      6.2      7.6      5.2      6.4
    

  

  

  

  

  

  

 

Earnings consist principally of income from continuing operations before income taxes, plus fixed charges. Fixed charges consist principally of interest costs.