St. Jude Medical (STJ) 10-Q 2013 Q3 Quarterly report

EXHIBIT 12

ST. JUDE MEDICAL, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(amounts in millions of dollars)

	Nine Months Ended		FISCAL YEAR
	September 28, 2013		2012		2011		2010		2009		2008
EARNINGS
Earnings before income taxes	$	655	$	1,005	$	1,019	$	1,209	$	1,057	$	581
Plus fixed charges:
Interest expense (1)	60		73		70		67		46		73
Rent interest factor (2)	11		15		15		12		11		9
TOTAL FIXED CHARGES	71		88		85		79		57		82
EARNINGS BEFORE INCOME TAXES AND FIXED CHARGES	$	726	$	1,093	$	1,104	$	1,288	$	1,114	$	663
RATIO OF EARNINGS TO FIXED CHARGES	10.2		12.4		13.0		16.3		19.5		8.1

(1) Interest expense consists of interest on indebtedness and amortization of debt issuance costs.

(2) Approximately one-third of rental expense is deemed representative of the interest factor.