Exhibit 12
LEGGETT AND PLATT, INCORPORATED AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in millions of dollars)
Three Months Ended | Twelve Months Ended December 31, | |||||||||||||||||||||||||||
3/31/12 | 3/31/11 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||||
Earnings | ||||||||||||||||||||||||||||
Income from continuing operations before income taxes* | $ | 66.8 | $ | 66.2 | $ | 206.2 | $ | 255.5 | $ | 198.4 | $ | 192.6 | $ | 147.3 | ||||||||||||||
Interest expense (excluding amount capitalized) | 9.5 | 9.5 | 38.3 | 37.7 | 37.4 | 49.5 | 60.9 | |||||||||||||||||||||
Portion of rental expense under operating leases representative of an interest factor** | 4.0 | 4.2 | 14.6 | 15.4 | 16.9 | 21.5 | 24.3 | |||||||||||||||||||||
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Total earnings*** | $ | 80.3 | $ | 79.9 | $ | 259.1 | $ | 308.6 | $ | 252.7 | $ | 263.6 | $ | 232.5 | ||||||||||||||
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Fixed charges | ||||||||||||||||||||||||||||
Interest expense (including amount capitalized) | $ | 9.7 | $ | 9.6 | $ | 39.0 | $ | 38.1 | $ | 38.3 | $ | 50.5 | $ | 61.9 | ||||||||||||||
Portion of rental expense under operating leases representative of an interest factor** | 4.0 | 4.2 | 14.6 | 15.4 | 16.9 | 21.5 | 24.3 | |||||||||||||||||||||
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Total fixed charges | $ | 13.7 | $ | 13.8 | $ | 53.8 | $ | 53.5 | $ | 55.2 | $ | 72.0 | $ | 86.2 | ||||||||||||||
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Ratio of earnings to fixed charges | 5.9 | 5.8 | 4.8 | 5.8 | 4.6 | 3.7 | 2.7 | |||||||||||||||||||||
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* | 2007and 2008 amounts have been retrospectively adjusted to include noncontrolling interest. |
** | Estimated portion of rent expense representing interest. |
*** | Earnings consist principally of income from continuing operations before income taxes, plus fixed charges less capitalized interest. Fixed charges consist principally of interest costs. |