EX-12 2 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,
     6/30/09    6/30/08    2008    2007    2006    2005    2004

Earnings

                    

Income from continuing operations before income taxes*

   $ 42.7    $ 130.7    $ 192.6    $ 147.3    $ 339.1    $ 305.6    $ 345.0

Interest expense (excluding amount capitalized)

     19.7      27.3      49.5      60.9      56.2      46.7      45.9

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

     11.8      12.5      21.5      24.3      24.9      14.0      13.3
                                                

Total earnings***

   $ 74.2    $ 170.5    $ 263.6    $ 232.5    $ 420.2    $ 366.3    $ 404.2
                                                

Fixed charges

                    

Interest expense (including amount capitalized)

   $ 20.1    $ 27.9    $ 50.5    $ 61.9    $ 57.8    $ 48.3    $ 46.9

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

     11.8      12.5      21.5      24.3      24.9      14.0      13.3
                                                

Total fixed charges***

   $ 31.9    $ 40.4    $ 72.0    $ 86.2    $ 82.7    $ 62.3    $ 60.2
                                                

Ratio of earnings to fixed charges***

     2.3      4.2      3.7      2.7      5.1      5.9      6.7
                                                

 

* 2004 through 2008 amounts have been retrospectively adjusted to include noncontrolling interest.
** Estimated portion of rent expense representing interest.
*** Earnings consist principally of income from continuing operations before income taxes, plus fixed charges. Fixed charges consist principally of interest costs.