Air Products and Chemicals (APD) 10-K2008 FY Annual report

Filed: 26 Nov 08, 12:00am

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	7th grade Avg

New words: abandonment, accurate, anticompetitive, antitrust, BASF, Bayer, Beginning, Brasil, Brazilian, budget, buy, climate, compensatory, concentration, consumption, create, created, defend, Defense, Demographic, denominated, Department, deteriorating, disposal, diversified, eliminate, elimination, escalation, ethylene, Failure, FASB, fire, force, gasification, GHG, goodwill, greenhouse, grow, growing, harming, hedge, hedged, house, impairment, impose, imposed, incidental, injection, instability, Insufficient, intangible, intellectual, Introduction, inventory, Jaya, judgment, judicial, jury, Justice, Kawasaki, laboratory, lack, land, leasehold, lived, Ltda, mandatory, mature, maturing, mentioned, Ministry, mobility, monetary, Nanjing, net, Northern, notified, order, outcome, pending, Petaling, predict, predictable, proceeding, punitive, pursue, quickly, Ratio, referral, replace, reputation, resolved, revenue, routine, skilled, social, Southern, strained, stringent, subsidiary, Tainan, talent, tangible, team, toxic, twelve, unaffiliated, Uncertainty, underutilization, undeveloped, unfavorable, Union, unrest, valuation, variability, variable, vehicle, waste, weaken, weakening, Western, withdrawn

Removed: accrued, AIRFLEX, application, area, Argentina, aromatic, assistance, assurance, back, backing, binder, Brunswick, Burghausen, Chase, Chicago, closely, Cologne, comply, copolymer, country, cover, credit, developed, directed, efficient, emulsion, entered, established, expand, extracted, fabric, factor, fee, fleet, friendly, generated, historical, homopolymer, Human, input, integration, investment, involve, Letter, licensed, light, Manhattan, Medicaid, Medicare, monomer, multiple, negotiated, nitric, nonwoven, paper, Philadelphia, policy, reader, readily, regulated, reimbursement, review, settled, Software, structure, therapy, truck, unconsolidated, updated, utilized

Search this filing

Filing tables

Export all tables to Excel

Filing exhibits

Related press release

APD similar filings

Filing view

Default size S M L
Default font Times Arial

External links

Share this filing

Exhibit 12

AIR PRODUCTS AND CHEMICALS, INC., AND SUBSIDIARIES

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(Unaudited)


																Twelve
																Months
																Ended
	Year Ended 30 September															30 Sep
	2003			2004			2005			2006			2007			2008

Earnings:
Income from continuing operations	$	407.2		$	574.9		$	659.0		$	734.1		$	1,019.6		$	1,090.5

Add (deduct):
Provision for income taxes		144.8			209.3			235.7			271.9			289.0			381.7

Fixed charges, excluding capitalized interest		146.4			144.0			139.1			146.7			190.9			188.8

Capitalized interest amortized during the period		6.5			7.0			6.1			6.5			6.4			6.6

Undistributed earnings of less-than-fifty-percent-owned affiliates		(16.2	)		(28.7	)		(29.2	)		(29.2	)		(61.2	)		(72.7	)


Earnings, as adjusted	$	688.7		$	906.5		$	1,010.7		$	1,130.0		$	1,444.7		$	1,594.9


Fixed Charges:

Interest on indebtedness, including capital lease obligations	$	125.5		$	123.0		$	113.0		$	119.8		$	163.7		$	164.4

Capitalized interest		6.2			7.9			14.9			18.8			14.6			27.3

Amortization of debt discount premium and expense		2.1			1.4			4.1			4.8			4.1			4.0

Portion of rents under operating leases representative of the interest factor		18.8			19.6			22.0			22.1			23.1			20.4


Fixed charges	$	152.6		$	151.9		$	154.0		$	165.5		$	205.5		$	216.1


Ratio of Earnings to Fixed Charges^(1):		4.5			6.0			6.6			6.8			7.0			7.4


⁽¹⁾		The ratio of earnings to fixed charges is determined by dividing earnings, which include income from continuing operations before taxes, undistributed earnings of less-than-fifty-percent-owned affiliates, and fixed charges, by fixed charges. Fixed charges consist of interest on all indebtedness plus that portion of operating lease rentals representative of the interest factor (deemed to be 21% of operating lease rentals).