Exhibit 12
AMETEK, Inc.
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
Year Ended December 31, | ||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||
Income from continuing operations | $ | 384,464 | $ | 283,932 | $ | 205,770 | $ | 246,952 | $ | 228,020 | ||||||||||
Income tax expense | 172,178 | 122,318 | 88,863 | 119,264 | 108,424 | |||||||||||||||
Interest expense — gross | 69,880 | 67,593 | 69,009 | 63,690 | 47,065 | |||||||||||||||
Capitalized interest | (151 | ) | (71 | ) | (259 | ) | (38 | ) | (199 | ) | ||||||||||
Amortization of debt financing costs(1) | — | — | — | — | — | |||||||||||||||
Interest portion of rental expense | 8,803 | 7,695 | 7,589 | 7,575 | 6,359 | |||||||||||||||
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Adjusted earnings | $ | 635,174 | $ | 481,467 | $ | 370,972 | $ | 437,443 | $ | 389,669 | ||||||||||
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Fixed charges: | ||||||||||||||||||||
Interest expense, net of capitalized interest | $ | 69,729 | $ | 67,522 | $ | 68,750 | $ | 63,652 | $ | 46,866 | ||||||||||
Capitalized interest | 151 | 71 | 259 | 38 | 199 | |||||||||||||||
Interest portion of rental expense | 8,803 | 7,695 | 7,589 | 7,575 | 6,359 | |||||||||||||||
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Fixed charges | $ | 78,683 | $ | 75,288 | $ | 76,598 | $ | 71,265 | $ | 53,424 | ||||||||||
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Ratio of adjusted earnings to fixed charges | 8.1x | 6.4x | 4.8x | 6.1x | 7.3x | |||||||||||||||
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(1) | Included in interest expense. |