Ecolab (ECL) 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

Exhibit 12

ECOLAB INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions, except ratios)

	Six Months Ended
	June 30		Year Ended December 31
	2016		2015		2014		2013		2012		2011
Earnings
Pre-tax income from continuing operations before income or loss from equity investees	$	652.6	$	1,317.7	$	1,698.4	$	1,298.3	$	1,012.6	$	679.6
Fixed charges, as computed below	177.2		327.4		347.0		343.5		346.6		125.4
Total earnings including fixed charges	$	829.8	$	1,645.1	$	2,045.4	$	1,641.8	$	1,359.2	$	805.0
Fixed Charges
Interest expense and amortization of debt premiums and discounts related to indebtedness	$	140.4	$	253.7	$	268.0	$	272.8	$	285.6	$	82.1
Appropriate portion (1/3) of rentals representative of the interest factor	36.8		73.7		79.0		70.7		61.0		43.3
Total fixed charges	$	177.2	$	327.4	$	347.0	$	343.5	$	346.6	$	125.4
Ratio of earnings to fixed charges	4.68		5.03		5.89		4.78		3.92		6.42