EX-12.1 4 exhibit121-sx3.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12.1 - 12.14.12 S-3


Exhibit 12.1



The Scotts Miracle-Gro Company
Computation of Ratio of Earnings to Fixed Charges
 
($ IN MILLIONS)
 
 
For the Fiscal Year Ended September 30,
 
2012
 
2011
 
2010
 
2009
 
2008
Income from continuing operations before income taxes
$
181.8

 
$
222.6

 
$
331.2

 
$
221.1

 
$
61.6

Fixed charges
85.7

 
77.2

 
69.4

 
77.7

 
104.2

Other (1)
0.5

 
0.5

 
0.5

 
0.8

 
0.7

Interest Capitalized
(0.9
)
 
(0.9
)
 
(0.8
)
 
(0.4
)
 
(0.4
)
Total adjusted earnings available for payment of fixed charges
$
267.1

 
$
299.4

 
$
400.3

 
$
299.2

 
$
166.1

Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
61.8

 
$
53.9

 
$
46.8

 
$
56.4

 
$
82.2

Interest Capitalized
0.9

 
0.9

 
0.8

 
0.4

 
0.4

Rental expense representative of interest factor
23.0

 
22.4

 
21.8

 
20.9

 
21.6

Total Fixed Charges
$
85.7

 
$
77.2

 
$
69.4

 
$
77.7

 
$
104.2

Ratio of Earnings to Fixed Charges
3.1

 
3.9

 
5.8

 
3.9

 
1.6

 
(1)
Includes amortization of capitalized interest, adjustments for minority interests in consolidated subsidiaries and distributed earnings of equity investees.