The Toro Company (TTC) 10-K2015 FY Annual report

Filed: 23 Dec 15, 12:00am

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EXHIBIT 12

THE TORO COMPANY AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

(Not Covered by Report of Independent Registered Public Accounting Firm)

	10/31/2015		10/31/2014		10/31/2013		10/31/2012		10/31/2011
Earnings before income taxes	$	291,031,000	$	256,445,000	$	226,713,000	$	196,262,000	$	174,826,000
Plus: Fixed charges	27,085,508		23,535,622		24,343,024		24,294,555		24,249,868
Earnings available to cover fixed charges	$	318,116,508	$	279,980,622	251,056,024		$	220,556,555	$	199,075,868
Ratio of earnings to fixed charges	11.74		11.90		10.31		9.08		8.21

Interest expense	$	18,757,000	$	15,426,000	$	16,210,000	$	16,906,000	$	16,970,000
Rentals (interest expense)	8,328,508		8,109,622		8,133,024		7,388,555		7,279,868
Total fixed charges	$	27,085,508	$	23,535,622	$	24,343,024	$	24,294,555	$	24,249,868

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