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 |
| |||||||||||||||||
|
| 2017 |
| 2016 |
| 2016 |
| 2015 |
| 2014 |
| 2013 |
| 2012 |
| |||||||
Earnings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Pre-tax income from continuing operations before income or loss from equity investees |
| $ | 690.2 |
| $ | 652.6 |
| $ | 1,650.4 |
| $ | 1,317.7 |
| $ | 1,698.4 |
| $ | 1,298.3 |
| $ | 1,012.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Fixed charges, as computed below |
| 167.1 |
| 177.2 |
| 359.1 |
| 327.4 |
| 347.0 |
| 343.5 |
| 346.6 |
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Total earnings including fixed charges |
| $ | 857.3 |
| $ | 829.8 |
| $ | 2,009.5 |
| $ | 1,645.1 |
| $ | 2,045.4 |
| $ | 1,641.8 |
| $ | 1,359.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Fixed Charges |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Interest expense and amortization of debt premiums and discounts related to indebtedness |
| $ | 130.3 |
| $ | 140.4 |
| $ | 285.4 |
| $ | 253.7 |
| $ | 268.0 |
| $ | 272.8 |
| $ | 285.6 |
|
Appropriate portion (1/3) of rentals representative of the interest factor |
| 36.8 |
| 36.8 |
| 73.7 |
| 73.7 |
| 79.0 |
| 70.7 |
| 61.0 |
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Total fixed charges |
| $ | 167.1 |
| $ | 177.2 |
| $ | 359.1 |
| $ | 327.4 |
| $ | 347.0 |
| $ | 343.5 |
| $ | 346.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Ratio of earnings to fixed charges |
| 5.13 |
| 4.68 |
| 5.60 |
| 5.03 |
| 5.89 |
| 4.78 |
| 3.92 |
|