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Content analysis
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- 10-K Annual report
- 12 Computation of Ratio of Earnings to Fixed Charges
- 13 Portions of ST. Jude Medical's 2011 Annual Report to Shareholders
- 21 Subsidiaries of the Registrant
- 23 Consent of Independent Registered Public Accounting Firm
- 24 Power of Attorney
- 31.1 Certification of CEO Pursuant to Section 302
- 31.2 Certification of CFO Pursuant to Section 302
- 32.1 Certification of CEO Pursuant to Section 906
- 32.2 Certification of CFO Pursuant to Section 906
Exhibit 12
ST. JUDE MEDICAL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(amounts in thousands of dollars)
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| FISCAL YEAR |
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| 2011 |
| 2010 |
| 2009 |
| 2008 |
| 2007 |
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EARNINGS |
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Earnings before income taxes |
| $ | 1,019,071 |
| $ | 1,208,803 |
| $ | 1,057,393 |
| $ | 580,768 |
| $ | 710,276 |
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Plus fixed charges: |
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Interest expense (1) |
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| 69,954 |
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| 67,372 |
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| 45,603 |
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| 72,554 |
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| 72,258 |
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Rent interest factor (2) |
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| 14,856 |
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| 12,113 |
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| 11,183 |
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| 9,527 |
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| 9,144 |
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TOTAL FIXED CHARGES |
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| 84,810 |
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| 79,485 |
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| 56,786 |
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| 82,081 |
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| 81,402 |
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EARNINGS BEFORE INCOME TAXES AND FIXED CHARGES |
| $ | 1,103,881 |
| $ | 1,288,288 |
| $ | 1,114,179 |
| $ | 662,849 |
| $ | 791,678 |
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RATIO OF EARNINGS TO FIXED CHARGES |
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| 13.0 |
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| 16.2 |
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| 19.6 |
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| 8.1 |
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| 9.7 |
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| (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. |