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Content analysis
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EXHIBIT 12
THE TORO COMPANY AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(Not Covered by Independent Auditors’ Report)
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| 10/31/2012 |
| 10/31/2011 |
| 10/31/2010 |
| 10/31/2009 |
| 10/31/2008 |
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Earnings before income taxes |
| $ | 196,262,000 |
| $ | 174,826,000 |
| $ | 141,268,000 |
| $ | 95,788,000 |
| $ | 181,289,000 |
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Plus: Fixed charges |
| 24,294,555 |
| 24,249,868 |
| 23,579,921 |
| 24,280,076 |
| 26,141,532 |
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Earnings available to cover fixed charges |
| $ | 220,556,555 |
| $ | 199,075,868 |
| $ | 164,847,921 |
| $ | 120,068,076 |
| $ | 207,430,532 |
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Ratio of earnings to fixed charges |
| 9.08 |
| 8.21 |
| 6.99 |
| 4.95 |
| 7.93 |
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Interest expense |
| $ | 16,906,000 |
| $ | 16,970,000 |
| $ | 17,113,000 |
| $ | 17,578,000 |
| $ | 19,333,000 |
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Rentals (interest expense) |
| 7,388,555 |
| 7,279,868 |
| 6,466,921 |
| 6,702,076 |
| 6,808,532 |
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Total fixed charges |
| $ | 24,294,555 |
| $ | 24,249,868 |
| $ | 23,579,921 |
| $ | 24,280,076 |
| $ | 26,141,532 |
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