IDEX (IEX) 10-K 2012 FY Annual report

EXHIBIT 12

Computation of Ratio of Earnings to Fixed Charges

($‘s in 000’s)

	December 2012		December 2011		December 2010		December 2009		December 2008
Fixed Charges:
Interest charges (per I/S)	$	42,250	$	29,332	$	16,150	$	17,178	$	18,852
Less: net amortization of debt discount and premium and issuance expenses		1,685		1,263		547		308		288
Adjusted interest charges		40,565		28,069		15,603		16,870		18,564
Add: Net amortization of debt discount and premium and issuance expense		1,685		1,263		547		308		288
Interest portion of rental charges		6,068		6,262		4,587		4,026		4,145
Total fixed charges	$	48,318	$	35,594	$	20,737	$	21,204	$	22,997
Earnings:
Pre-tax earnings	$	86,204	$	273,881	$	231,874	$	168,827	$	192,227
Interest charges		40,565		28,069		15,603		16,870		18,564
Net amortization of debt discount and premium and issuance expense		1,685		1,263		547		308		288
Interest portion of rental charges		6,068		6,262		4,587		4,026		4,145
Total earnings	$	134,522	$	309,475	$	252,611	$	190,031	$	215,224
Ratio of earnings to fixed charges		2.8		8.7		12.2		9.0		9.4

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.