| Exhibit 12 | |||||||||||||||||||||||
| Leggett & Platt, Incorporated and Subsidiaries | |||||||||||||||||||||||
| Computation of Ratio of Earnings to Fixed Charges | |||||||||||||||||||||||
| (Amounts in millions of dollars) | |||||||||||||||||||||||
| Twelve Months Ended | |||||||||||||||||||||||
| December 31, | |||||||||||||||||||||||
| 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||
| Earnings: | |||||||||||||||||||||||
| Pre-tax income from continuing operations including equity-method investment earnings (a) | $ | 432.0 | $ | 487.1 | $ | 449.8 | $ | 295.5 | $ | 237.6 | $ | 287.5 | |||||||||||
| Add: | |||||||||||||||||||||||
| Interest expense and amortization of interest rate swaps and debt discount and premium on all indebtedness (including amount capitalized) | 43.6 | 39.4 | 41.8 | 42.3 | 45.2 | 44.0 | |||||||||||||||||
| Portion of rental expense under operating leases representative of an interest factor (b) | 17.1 | 17.1 | 17.3 | 17.0 | 16.5 | 16.0 | |||||||||||||||||
| Amortization of capitalized interest | 1.0 | .8 | 1.0 | 1.0 | .9 | .9 | |||||||||||||||||
| Less: | |||||||||||||||||||||||
| Equity-method investment (earnings) loss | (.4 | ) | (.5 | ) | (.4 | ) | (.3 | ) | (.5 | ) | (.6 | ) | |||||||||||
| Interest capitalized | (.1 | ) | (.6 | ) | (.7 | ) | (.5 | ) | (.5 | ) | (.6 | ) | |||||||||||
| Total Earnings (c) | $ | 493.2 | $ | 543.3 | $ | 508.8 | $ | 355.0 | $ | 299.2 | $ | 347.2 | |||||||||||
| Fixed Charges: | |||||||||||||||||||||||
| Interest expense and amortization of interest rate swaps and debt discount and premium on all indebtedness | $ | 43.5 | $ | 38.8 | $ | 41.1 | $ | 41.8 | $ | 44.7 | $ | 43.4 | |||||||||||
| Interest capitalized | .1 | .6 | .7 | .5 | .5 | .6 | |||||||||||||||||
| Portion of rental expense under operating leases representative of an interest factor (b) | 17.1 | 17.1 | 17.3 | 17.0 | 16.5 | 16.0 | |||||||||||||||||
| Total Fixed Charges | $ | 60.7 | $ | 56.5 | $ | 59.1 | $ | 59.3 | $ | 61.7 | $ | 60.0 | |||||||||||
| Ratio of Earnings to Fixed Charges | 8.1 | 9.6 | 8.6 | 6.0 | 4.8 | 5.8 | |||||||||||||||||
| (a) | 2012 and 2013 amounts have been retrospectively adjusted to reflect the reclassification of certain operations to discontinued operations. |
| (b) | Estimated portion of rent expense representing interest. |
| (c) | Earnings consist principally of income from continuing operations before income taxes, plus fixed charges less capitalized interest. Fixed charges consist principally of interest costs. |