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?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
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H.S. freshman Good
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Removed:
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Filing tables
Filing exhibits
- 10-K Annual report
- 4 Exhibit 4.B.I
- 10 Exhibit 10.A
- 10 Exhibit 10.D
- 10 Exhibit 10.B.I
- 10 Exhibit 10.B.IX
- 10 Exhibit 10.B.IV
- 10 Exhibit 10.B.VII
- 10 Exhibit 10.B.VIII
- 10 Exhibit 10.B.III
- 10 Exhibit 10.J.II
- 12 Exhibit 12
- 21 Exhibit 21
- 23 Exhibit 23
- 31 Exhibit 31.A
- 31 Exhibit 31.B
- 32 Exhibit 32
- Download Excel data file
- View Excel data file
Related press release
Associated MAS transcripts
MAS similar filings
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Exhibit 12
MASCO CORPORATION
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(Dollars in Millions) | ||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||
Earnings Before Income Taxes, Preferred Stock Dividends and Fixed Charges: | ||||||||||||||||||||
Income from continuing operations before income taxes | $ | 885 | $ | 830 | $ | 689 | $ | 507 | $ | 386 | ||||||||||
Deduct equity in undistributed (earnings) loss of fifty-percent-or-less-owned companies | (1 | ) | (2 | ) | (2 | ) | 2 | (16 | ) | |||||||||||
Add interest on indebtedness, net | 167 | 185 | 222 | 221 | 230 | |||||||||||||||
Add amortization of debt expense | 4 | 5 | 5 | 5 | 6 | |||||||||||||||
Add estimated interest factor for rentals | 22 | 21 | 19 | 33 | 31 | |||||||||||||||
Earnings before income taxes, noncontrolling interest, fixed charges and preferred stock dividends | $ | 1,077 | $ | 1,039 | $ | 933 | $ | 768 | $ | 637 | ||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest on indebtedness | $ | 170 | $ | 190 | $ | 223 | $ | 221 | $ | 229 | ||||||||||
Amortization of debt expense | 4 | 5 | 5 | 5 | 6 | |||||||||||||||
Estimated interest factor for rentals | 22 | 21 | 19 | 33 | 31 | |||||||||||||||
Total fixed charges | $ | 196 | $ | 216 | $ | 247 | $ | 259 | $ | 266 | ||||||||||
Preferred stock dividends (A) | — | — | — | — | — | |||||||||||||||
Combined fixed charges and preferred stock dividends | $ | 196 | $ | 216 | $ | 247 | $ | 259 | $ | 266 | ||||||||||
Ratio of earnings to fixed charges | 5.5 | 4.8 | 3.8 | 3.0 | 2.4 | |||||||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | 5.5 | 4.8 | 3.8 | 3.0 | 2.4 | |||||||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends excluding certain items (B) | 5.5 | 4.8 | 3.8 | 2.9 | 2.4 |
(A) Represents amount of income before provision for income taxes required to meet the preferred stock dividend requirements of the Company.
(B) Excludes the 2014 litigation settlement income of $9 million.