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S-3ASR Filing
Watts Water (WTS) S-3ASRAutomatic shelf registration
Filed: 28 Mar 12, 12:00am
Exhibit 12.1
Ration of Earnings to Fixed Charges
(in millions, except ratios)
|
| Year Ended December 31, |
| |||||||||||||
|
| 2007 |
| 2008 |
| 2009 |
| 2010 |
| 2011 |
| |||||
Earnings: |
|
|
|
|
|
|
|
|
|
|
| |||||
Income from continuing operations before income taxes and noncontrolling interest |
| $ | 109.1 |
| $ | 68.0 |
| $ | 72.3 |
| $ | 94.5 |
| $ | 91.5 |
|
Add (less): |
|
|
|
|
|
|
|
|
|
|
| |||||
Loss attributable to noncontrolling interest before income taxes |
| 2.8 |
| 1.9 |
| — |
| — |
| — |
| |||||
Add Fixed Charges: |
|
|
|
|
|
|
|
|
|
|
| |||||
Interest Expense |
| 27.1 |
| 26.2 |
| 22.0 |
| 22.8 |
| 25.8 |
| |||||
Portion of rent representative of an interest factor |
| 2.8 |
| 3.3 |
| 3.4 |
| 3.2 |
| 3.7 |
| |||||
Adjusted income before income taxes |
| $ | 141.8 |
| $ | 99.4 |
| $ | 97.7 |
| $ | 120.5 |
| $ | 121.0 |
|
|
|
|
|
|
|
|
|
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|
|
| |||||
Fixed Charges |
|
|
|
|
|
|
|
|
|
|
| |||||
Interest Expense |
| $ | 27.1 |
| $ | 26.2 |
| $ | 22.0 |
| $ | 22.8 |
| $ | 25.8 |
|
Portion of rent representative of an interest factor |
| 2.8 |
| 3.3 |
| 3.4 |
| 3.2 |
| 3.7 |
| |||||
Total Fixed Charges |
| $ | 29.9 |
| $ | 29.5 |
| $ | 25.4 |
| $ | 26.0 |
| $ | 29.5 |
|
|
|
|
|
|
|
|
|
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|
|
| |||||
Ratio of earnings to fixed charges |
| 4.7 |
| 3.4 |
| 3.8 |
| 4.6 |
| 4.1 |
|
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