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Content analysis
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8th grade Avg
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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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| 10/31/2005 |
| 10/31/2004 |
| 10/31/2003 |
| 10/31/2002 |
| 10/31/2001 |
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Earnings before income taxes and cumulative effect of change in accounting principle |
| $ | 170,272,000 |
| $ | 153,233,000 |
| $ | 120,918,000 |
| $ | 86,799,000 |
| $ | 80,077,000 |
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Plus: Fixed charges |
| 24,298,000 |
| 22,004,000 |
| 22,251,000 |
| 25,324,000 |
| 27,313,000 |
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Earnings available to cover fixed charges |
| $ | 194,570,000 |
| $ | 175,237,000 |
| $ | 143,169,000 |
| $ | 112,123,000 |
| $ | 107,390,000 |
|
Ratio of earnings to fixed charges |
| 8.01 |
| 7.96 |
| 6.43 |
| 4.43 |
| 3.93 |
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Interest expense |
| $ | 17,733,000 |
| $ | 15,523,000 |
| $ | 16,285,000 |
| $ | 19,747,000 |
| $ | 22,003,000 |
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Rentals (interest expense) |
| 6,565,000 |
| 6,481,000 |
| 5,966,000 |
| 5,577,000 |
| 5,310,000 |
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Total fixed charges |
| 24,298,000 |
| $ | 22,004,000 |
| $ | 22,251,000 |
| $ | 25,324,000 |
| $ | 27,313,000 |
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