EXHIBIT 12
ST. JUDE MEDICAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(amounts in thousands of dollars)
Nine October 1, 2011 | FISCAL YEAR | |||||||||||||||||||||||
2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||||||
EARNINGS | ||||||||||||||||||||||||
Earnings before income taxes | $ | 885,791 | $ | 1,208,803 | $ | 1,057,393 | $ | 580,768 | $ | 710,276 | $ | 706,063 | ||||||||||||
Plus fixed charges: | ||||||||||||||||||||||||
Interest expense (1) | 51,747 | 67,372 | 45,603 | 72,554 | 72,258 | 48,461 | ||||||||||||||||||
Rent interest factor (2) | 9,085 | 12,113 | 11,183 | 9,527 | 9,144 | 8,190 | ||||||||||||||||||
TOTAL FIXED CHARGES | 60,832 | 79,485 | 56,786 | 82,081 | 81,402 | 56,651 | ||||||||||||||||||
EARNINGS BEFORE INCOME TAXES AND FIXED CHARGES | $ | 946,623 | $ | 1,288,288 | $ | 1,114,179 | $ | 662,849 | $ | 791,678 | $ | 762,714 | ||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 15.6 | 16.2 | 19.6 | 8.1 | 9.7 | 13.5 |
(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.