EX-12 2 y08353exv12.htm EX-12 RATIO EARNINGS TO FIXED CHARGES EX-12
 

EXHIBIT 12

AMERICAN STANDARD COMPANIES INC.
COMPUTATION OF THE RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)

                                                         
                                            Three Months  
    For the Years ended December 31,     Ended March 31,  
    2000     2001     2002     2003     2004     2004     2005  
Income from continuing operations before income taxes
   $ 509.4     $ 476.4     $ 556.2     $ 549.2     $ 362.9     $ 122.6     $ 127.1  
 
                                                        
Equity in net (income) loss of associated companies net of dividends received
     (8.7 )     (2.8 )     (13.5 )     (14.3 )     (15.8 )     (5.4 )     (7.3 )
 
                                                        
Amortization of capitalized interest
     1.9       2.3       2.3       2.3       2.3       .6       .6  
 
                                                        
Interest expense
     198.7       168.7       129.0       117.0       114.9       29.3       29.6  
 
                                                        
Rental expense factor
     49.4       53.2       58.6       37.5       38.7       9.3       10.4  
 
                                          
 
                                                        
Earnings available for fixed charges
   $ 750.7     $ 697.8     $ 732.6     $ 691.7     $ 503.0     $ 156.4     $ 160.4  
 
                                          
 
                                                        
Interest expense
   $ 198.7     $ 168.7     $ 129.0     $ 117.0     $ 114.9     $ 29.3     $ 29.6  
 
                                                        
Capitalized interest
     2.0       4.8       2.6       0.9       0.2       0.1       0.1  
 
                                                        
Rental expense factor
     49.4       53.2       58.6       37.5       38.7       9.3       10.4  
 
                                          
 
                                                        
Fixed charges
   $ 250.1     $ 226.7     $ 190.2     $ 155.4     $ 153.8     $ 38.7     $ 40.1  
 
                                          
 
                                                        
Ratio of earnings to fixed charges (a)
     3.0       3.1       3.9       4.5       3.3       4.0       4.0  

a)   For the purpose of computing the ratio of earnings to fixed charges, fixed charges consist of interest on debt (including capitalized interest), amortization of debt discount and expense, and a portion of rentals determined to be representative of interest. Earnings consist of consolidated net income before income taxes, plus fixed charges other than capitalized interest but including the amortization thereof, adjusted by the excess or deficiency of dividends over income of entities accounted for by the equity method.