EX-12 7 a15-8111_1ex12.htm EX-12

Exhibit 12

 

Ratio of Earnings to Fixed Charges

(in millions, except ratios)

 

 

 

Year Ended December 31,

 

 

 

2010

 

2011

 

2012

 

2013

 

2014

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income taxes

 

$

95.9

 

$

107.9

 

$

100.2

 

$

87.8

 

$

83.1

 

Add Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

Interest Expense

 

22.8

 

25.8

 

24.6

 

21.5

 

19.9

 

Portion of rent representative of an interest factor (a)

 

3.2

 

3.7

 

4.4

 

4.5

 

4.4

 

Adjusted income before income taxes

 

$

121.9

 

$

137.4

 

$

129.2

 

$

113.8

 

$

107.4

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

Interest Expense

 

$

22.8

 

$

25.8

 

$

24.6

 

$

21.5

 

$

19.9

 

Portion of rent expense representative of an interest factor (a)

 

3.2

 

3.7

 

4.4

 

4.5

 

4.4

 

Total Fixed Charges

 

$

26.0

 

$

29.5

 

$

29.0

 

$

26.0

 

$

24.3

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

4.7

 

4.7

 

4.5

 

4.4

 

4.4

 

 


(a) One-third of net rent expense is the portion deemed representative of the interest factor