EX-12 4 c67074ex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 THE TORO COMPANY AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (NOT COVERED BY INDEPENDENT AUDITORS' REPORT)
10/31/01 10/31/00 10/31/99 10/31/98 10/31/97 ------------ ------------ ------------ ------------ ------------ EARNINGS BEFORE INCOME TAXES $ 80,077,000 $ 71,882,000 $ 57,473,000 $ 6,761,000 $ 60,344,000 PLUS: FIXED CHARGES $ 27,313,000 $ 31,103,000 28,242,000 29,415,000 23,186,000 ------------ ------------ ------------ ------------ ------------ EARNINGS AVAILABLE TO COVER FIXED CHARGES $107,390,000 $102,985,000 $ 85,715,000 $ 36,176,000 $ 83,530,000 ------------ ------------ ------------ ------------ ------------ RATIO OF EARNINGS TO FIXED CHARGES 3.93 3.31 3.04 1.23 3.60 ============ ============ ============ ============ ============ INTEREST EXPENSE $ 22,003,000 $ 26,414,000 $ 23,810,000 $ 25,428,000 $ 19,900,000 RENTALS (INTEREST EXPENSE) 5,310,000 4,689,000 4,432,000 3,987,000 3,286,000 ------------ ------------ ------------ ------------ ------------ TOTAL FIXED CHARGES $ 27,313,000 $ 31,103,000 $ 28,242,000 $ 29,415,000 $ 23,186,000 ============ ============ ============ ============ ============