IDEX (IEX) 10-K 2009 FY Annual report

EXHIBIT 12

Computation of Ratio of Earnings to Fixed Charges
($’s in 000’s)

	Years ended December 31
	2009		2008		2007		2006		2005
Fixed Charges:
Interest charges (per I/S)	$	17,178	$	18,852	$	23,353	$	16,353	$	14,370
Less: net amortization of debt discount and premium and issuance expenses		308		288		460		456		686
Adjusted interest charges		16,870		18,564		22,893		15,897		13,684
Add: Net amortization of debt discount and premium and issuance expense		308		288		460		456		686
Interest portion of rental charges		162		414		686		552		542
Total fixed charges	$	17,340	$	19,266	$	24,039	$	16,905	$	14,912
Earnings:
Pre-tax earnings	$	168,827	$	192,227	$	232,876	$	198,658	$	168,877
Interest charges		16,870		18,564		22,893		15,897		13,684
Net amortization of debt discount and premium and issuance expense		308		288		460		456		686
Interest portion of rental charges		162		414		686		552		542
Total earnings	$	186,167	$	211,493	$	256,915	$	215,563	$	183,789
Ratio of earnings to fixed charges		10.7		11.0		10.7		12.8		12.3

Note: Currently amortization of debt discount and premium and issuance expenses are recorded and included within the interest expense line item. The above analysis starts with interest expense per the income statement and then subtracts the amortization figure in order to get to a “true” interest expense amount.