Free signup for more
- Track your favorite companies
- Receive email alerts for new filings
- Personalized dashboard of news and more
- Access all data and search results
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
8th grade Good
|
Filing tables
Filing exhibits
Related press release
CMI similar filings
Filing view
External links
EXHIBIT 12
CUMMINS INC. AND CONSOLIDATED SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
|
| Six months ended |
| ||||
|
| July 1, |
| July 2, |
| ||
|
| 2007 |
| 2006 |
| ||
| Millions | ||||||
Earnings | |||||||
Earnings before income taxes and minority interests | $ | 567 | $ | 527 | |||
Add: | |||||||
Fixed charges | 52 | 71 | |||||
Amortization of capitalized interest | 3 | 3 | |||||
Distributed income of equity investees | 55 | 34 | |||||
Less: | |||||||
Equity in earnings of investees | 83 | 60 | |||||
Capitalized interest | 3 | 2 | |||||
Earnings before fixed charges | $ | 591 | $ | 573 | |||
Fixed charges | |||||||
Interest expense | $ | 30 | $ | 53 | |||
Capitalized interest | 3 | 2 | |||||
Amortization of debt discount | 1 | - | |||||
Interest portion of rental expense (1) | 18 | 16 | |||||
Total fixed charges | $ | 52 | $ | 71 | |||
Ratio of earnings to fixed charges | 11.4 | 8.1 | |||||
(1) Amounts represent those portions of rent expense that are reasonable approximations of interest costs. |