Exhibit 12.2
Fortive Corporation
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
(In millions, except ratio data)
Six Months Ended | Year Ended December 31 | |||||||||||||||||||||||||||
June 29, 2018 | June 30, 2017 | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest Expense | $ | 49.9 | $ | 45.3 | $ | 94.0 | $ | 49.0 | $ | — | $ | — | $ | — | ||||||||||||||
Interest Element of Rental Expense | 1.6 | 1.7 | 3.0 | 3.6 | 3.6 | 3.1 | 3.3 | |||||||||||||||||||||
Interest on Unrecognized Tax Benefits | — | — | — | — | — | — | — | |||||||||||||||||||||
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Total Fixed Charges | $ | 51.5 | $ | 47.0 | $ | 97.0 | $ | 52.6 | $ | 3.6 | $ | 3.1 | $ | 3.3 | ||||||||||||||
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Earnings Available for Fixed Charges: | ||||||||||||||||||||||||||||
Earnings Before Income Taxes | $ | 668.9 | $ | 597.9 | $ | 1,284.2 | $ | 1,197.0 | $ | 1,269.7 | $ | 1,279.2 | $ | 1,143.2 | ||||||||||||||
Add Fixed Charges | 51.5 | 47.0 | 97.0 | 52.6 | 3.6 | 3.1 | 3.3 | |||||||||||||||||||||
Interest on Unrecognized Tax Benefits | — | — | — | — | — | — | — | |||||||||||||||||||||
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Total Earnings Available for Fixed Charges | $ | 720.4 | $ | 644.9 | $ | 1,381.2 | $ | 1,249.6 | $ | 1,273.3 | $ | 1,282.3 | $ | 1,146.5 | ||||||||||||||
Ratio of Earnings to Fixed Charges | 14.0 | 13.7 | 14.2 | 23.8 | 353.7 | 413.6 | 347.4 | |||||||||||||||||||||
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NOTE: These ratios include Fortive Corporation and its consolidated subsidiaries. The ratio of earnings to fixed charges was computed by dividing earnings by fixed charges for the periods indicated, where “earnings” consist of (1) earnings before income taxes; plus (2) fixed charges, and “fixed charges” consist of (A) interest, whether expensed or capitalized, on all indebtedness, (B) amortization of premiums, discounts and capitalized expenses related to indebtedness, and (C) an interest component representing the estimated portion of rental expense that management believes is attributable to interest. Interest on unrecognized tax benefits is included in the tax provision in Fortive Corporation’s Combined Condensed Statements of Earnings and is excluded from the computation of fixed charges.
Fortive Corporation Unaudited Pro Forma
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
(In millions, except ratio data)
Six Months Ended | Year Ended December 31 | |||||||
June 29, 2018 | 2017 | |||||||
Pro Forma | Pro Forma | |||||||
Fixed Charges: | ||||||||
Interest Expense | $ | 47.2 | $ | 80.8 | ||||
Interest Element of Rental Expense | 1.4 | 2.5 | ||||||
Interest on Unrecognized Tax Benefits | — | — | ||||||
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Total Fixed Charges | $ | 48.6 | $ | 83.3 | ||||
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Earnings Available for Fixed Charges: | ||||||||
Earnings Before Income Taxes | $ | 553.0 | $ | 1,073.4 | ||||
Add Fixed Charges | 48.6 | 83.3 | ||||||
Interest on Unrecognized Tax Benefits | — | — | ||||||
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Total Earnings Available for Fixed Charges | $ | 601.6 | $ | 1,156.7 | ||||
Ratio of Earnings to Fixed Charges | 12.4 | 13.9 | ||||||
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NOTE: These ratios include Fortive Corporation and its consolidated subsidiaries. The ratio of earnings to fixed charges was computed by dividing earnings by fixed charges for the periods indicated, where “earnings” consist of (1) earnings before income taxes; plus (2) fixed charges, and “fixed charges” consist of (A) interest, whether expensed or capitalized, on all indebtedness, (B) amortization of premiums, discounts and capitalized expenses related to indebtedness, and (C) an interest component representing the estimated portion of rental expense that management believes is attributable to interest. Interest on unrecognized tax benefits is included in the tax provision in Fortive Corporation’s Unaudited Pro Forma Consolidated Condensed Statements of Earnings and is excluded from the computation of fixed charges.