The Toro Company (TTC) 10-K 2004 FY Annual report

EXHIBIT 12

THE TORO COMPANY AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(Not Covered by Independent Auditors’ Report)

	10/31/2004		10/31/2003		10/31/2002		10/31/2001		10/31/2000
Earnings before income taxes and cumulative effect of change in accounting principle	$	153,233,000	$	120,918,000	$	86,799,000	$	80,077,000	$	71,882,000
Plus: Fixed charges		22,004,000		22,251,000		25,324,000		27,313,000		31,103,000
Earnings available to cover fixed charges	$	175,237,000	$	143,169,000	$	112,123,000	$	107,390,000	$	102,985,000
Ratio of earnings to fixed charges		7.96		6.43		4.43		3.93		3.31
Interest expense	$	15,523,000	$	16,285,000	$	19,747,000	$	22,003,000	$	26,414,000
Rentals (interest expense)		6,481,000		5,966,000		5,577,000		5,310,000		4,689,000
Total fixed charges	$	22,004,000	$	22,251,000	$	25,324,000	$	27,313,000	$	31,103,000