Stryker (SYK) 8-K Entry into a Material Definitive Agreement

Exhibit 12.1

Ratio of Earnings to Fixed Charges

(in millions)

		Nine Months Ended September 30, 2015		2014		2013		2012		2011		2010
Earnings from continuing operations before income taxes (public data)		$	1,123.0	$	1,160.0	$	1,212.0	$	1,705.0	$	1,686.0	$	1,729.6
Plus fixed charges:
Updated Interest expense (1)			79.5		112.9		83.7		64.0		57.2		78.1
Rent interest factor (2)			25.4		34.3		33.3		32.7		32.0		27.0
Total fixed charges:			104.9		147.3		117.0		96.7		89.2		105.1
Earnings from continuing operations before income taxes and fixed charges		$	1,227.9	$	1,307.3	$	1,329.0	$	1,801.7	$	1,775.2	$	1,834.7
Ratio of earnings to fixed charges			11.7		8.9		11.4		18.6		19.9		17.5
(1)	Interest consists of interest on indebtedness, amortization of fees and debt prepayment fees, forward points on interest rate hedges. Interest on FIN 48 charges is excluded.
Interest Expense on debt & credit facilities			76.9		108.9		83.0		63.0		56.3		77.5
Plus: Amortization of Fees			1.0		1.2		0.7		1.0		0.9		0.6
Hedging forward points			1.6		2.9
			79.5		112.9		83.7		64.0		57.2		78.1
(2)	Approximately one-third of rental expense is deemed representative of the interest factor
Total rental expense			76.3		103.0		100.0		98.0		96.0		80.9
Interest factor (one-third of rental expense)			25.4		34.3		33.3		32.7		32.0		27.0