Exhibit 12.1
PENTAIR, INC.
RATIO OF EARNINGS TO FIXED CHARGES
in thousands |
| 2006 |
| 2007 |
| 2008 |
| 2009 |
| 2010 |
| Q1 2010 |
| Q1 2011 |
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Earnings: |
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Income from continuing operations before income taxes, noncontrolling interest and equity (income) losses of unconsolidated subsidiaries |
| $ | 263,007 |
| $ | 309,426 |
| $ | 370,181 |
| $ | 174,026 |
| $ | 298,039 |
| $ | 54,074 |
| $ | 76,852 |
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Fixed charges |
| 63,041 |
| 81,466 |
| 73,970 |
| 53,050 |
| 48,266 |
| 12,489 |
| 12,467 |
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Total earnings available for fixed charges |
| $ | 326,048 |
| $ | 390,892 |
| $ | 444,151 |
| $ | 227,076 |
| $ | 346,305 |
| $ | 66,563 |
| $ | 89,319 |
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Fixed Charges: |
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Interest expense |
| $ | 51,044 |
| $ | 69,903 |
| $ | 61,464 |
| $ | 42,117 |
| $ | 37,379 |
| $ | 9,767 |
| $ | 9,745 |
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Interest expense in rental expense |
| 11,997 |
| 11,563 |
| 12,506 |
| 10,933 |
| 10,887 |
| 2,722 |
| 2,722 |
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| $ | 63,041 |
| $ | 81,466 |
| $ | 73,970 |
| $ | 53,050 |
| $ | 48,266 |
| $ | 12,489 |
| $ | 12,467 |
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Ratio of Earnings to Fixed Charges |
| 5.2 |
| 4.8 |
| 6.0 |
| 4.3 |
| 7.2 |
| 5.3 |
| 7.2 |
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For purposes of calculating the ratios of earnings to fixed charges, earnings consist of income before income taxes and noncontrolling interests plus equity (income) losses of unconsolidated subsidiaries, plus fixed charges. Fixed charges consist of interest expensed and an estimate of interest within rental expense.
