Exhibit 12.1
CRANE CO.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in $000s) | ||||||||||||||||||||||||
For the Nine Months ended September 30, | For the Year Ended December 31, | |||||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||||
Earnings | ||||||||||||||||||||||||
Pretax income from continuing operations | $ | 284,700 | $ | 164,100 | $ | 336,500 | $ | 281,156 | $ | 326,016 | $ | 284,605 | ||||||||||||
Add: Fixed charges | 33,910 | 44,967 | 46,167 | 48,767 | 35,427 | 35,731 | ||||||||||||||||||
Less: Minority Interest | 600 | 1,000 | 1,100 | 900 | 1,449 | 828 | ||||||||||||||||||
Total Earnings Available for Fixed Charges | $ | 318,010 | $ | 208,067 | $ | 381,567 | $ | 329,023 | $ | 359,994 | $ | 319,508 | ||||||||||||
Fixed Charges | ||||||||||||||||||||||||
Interest Expense(1) | $ | 27,300 | $ | 36,500 | $ | 37,600 | $ | 39,200 | $ | 26,460 | $ | 26,831 | ||||||||||||
Portions of rents representing interest factor(2) | 6,610 | 8,467 | 8,567 | 9,567 | 8,967 | 8,900 | ||||||||||||||||||
Total Fixed Charges | $ | 33,910 | $ | 44,967 | $ | 46,167 | $ | 48,767 | $ | 35,427 | $ | 35,731 | ||||||||||||
Ratio of Earnings to Fixed Charges | 9.4 | 4.6 | 8.3 | 6.8 | 10.2 | 8.9 |
(1) Interest expense includes original issue discount and deferred financing amortization.
(2) Approximately one-third of rental expense is deemed representative of the interest factor.