EX-12 2 pll201310kex12.htm RATIO OF EARNINGS TO FIXED CHARGES PLL 2013 10K EX 12


Exhibit 12
 
Pall Corporation and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(amounts in thousands, except ratios)
 
 
 
Fiscal Year Ended
 
 
July 31, 2013
 
July 31, 2012
 
July 31, 2011
 
July 31, 2010
 
July 31, 2009
Determination of Earnings:
 
 
 
 
 
 
 
 
 
 
Earnings before income taxes
 
$
411,626

 
$
366,910

 
$
368,719

 
$
272,595

 
$
225,978

Fixed charges
 
35,638

 
40,754

 
37,107

 
30,697

 
47,263

Amortization of capitalized interest
 
257

 
165

 
167

 
218

 
246

Capitalized interest
 
—

 
(277
)
 
(404
)
 
(225
)
 
(489
)
Total earnings as defined
 
$
447,521

 
$
407,552

 
$
405,589

 
$
303,285

 
$
272,998

 
 
 
 
 
 
 
 
 
 
 
Determination of Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest Expense (*)
 
$
24,073

 
$
28,704

 
$
26,055

 
$
19,910

 
$
36,864

Rents (**)
 
11,565

 
11,773

 
10,648

 
10,562

 
9,910

Capitalized interest
 
—

 
277

 
404

 
225

 
489

Total fixed charges
 
$
35,638

 
$
40,754

 
$
37,107

 
$
30,697

 
$
47,263


 
 
 
 
 
 
 
 
 
 
Computation of Ratio of Earnings to Fixed Charges
 
12.6

 
10.0

 
10.9

 
9.9

 
5.8


(*)
Interest expense includes the amortized premiums, discounts and capitalized expenses related to indebtedness.
(**)      
Rents included in the computation consist of one-third of rental expense.