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 |
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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 |
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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. |