Exhibit 12
AMETEK, Inc.
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
Year Ended December 31, | ||||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||
Income from continuing operations | $ | 806,380 | $ | 804,832 | $ | 724,795 | $ | 662,475 | $ | 556,642 | ||||||||||
Interest expense – gross | 91,319 | 79,147 | 72,972 | 74,885 | 69,384 | |||||||||||||||
Capitalized interest | (489 | ) | (73 | ) | (201 | ) | (213 | ) | (151 | ) | ||||||||||
Amortization of debt financing costs | 965 | 855 | 801 | 800 | 496 | |||||||||||||||
Interest portion of rental expense | 14,518 | 14,874 | 13,177 | 9,325 | 8,803 | |||||||||||||||
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Adjusted earnings | $ | 912,693 | $ | 899,635 | $ | 811,544 | $ | 747,272 | $ | 635,174 | ||||||||||
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Fixed charges: | ||||||||||||||||||||
Interest expense, net of capitalized interest | $ | 90,830 | $ | 79,074 | $ | 72,771 | $ | 74,672 | $ | 69,233 | ||||||||||
Capitalized interest | 489 | 73 | 201 | 213 | 151 | |||||||||||||||
Amortization of debt financing costs | 965 | 855 | 801 | 800 | 496 | |||||||||||||||
Interest portion of rental expense | 14,518 | 14,874 | 13,177 | 9,325 | 8,803 | |||||||||||||||
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Fixed charges | $ | 106,802 | $ | 94,876 | $ | 86,950 | $ | 85,010 | $ | 78,683 | ||||||||||
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Ratio of adjusted earnings to fixed charges | 8.5x | 9.5x | 9.3x | 8.8x | 8.1x | |||||||||||||||
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