Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
The following table presents Snap-on Incorporated’s ratio of earnings to fixed charges for the nine months ended October 3, 2015 and September 27, 2014, and for each of its last five fiscal years:
| Nine Months Ended October 3, 2015 | Nine Months Ended September 27, 2014 | 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||||
Earnings before income taxes and equity earnings | $ | 516.7 | $ | 457.5 | $ | 630.9 | $ | 526.2 | $ | 460.2 | $ | 412.9 | $ | 277.4 | ||||||||||||||
Distributed income of equity investees | — | — | — | — | — | 5.0 | 2.0 | |||||||||||||||||||||
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Earnings before income taxes and equity earnings, as adjusted | $ | 516.7 | $ | 457.5 | $ | 630.9 | $ | 526.2 | $ | 460.2 | $ | 417.9 | $ | 279.4 | ||||||||||||||
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Fixed charges: | ||||||||||||||||||||||||||||
Interest on debt | $ | 38.2 | $ | 38.3 | $ | 51.8 | $ | 55.3 | $ | 55.2 | $ | 60.4 | $ | 54.1 | ||||||||||||||
Interest element of rentals | 2.1 | 2.2 | 2.9 | 2.7 | 2.4 | 2.7 | 2.7 | |||||||||||||||||||||
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Total fixed charges | $ | 40.3 | $ | 40.5 | $ | 54.7 | $ | 58.0 | $ | 57.6 | $ | 63.1 | $ | 56.8 | ||||||||||||||
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Total adjusted earnings available for payment of fixed charges | $ | 557.0 | $ | 498.0 | $ | 685.6 | $ | 584.2 | $ | 517.8 | $ | 481.0 | $ | 336.2 | ||||||||||||||
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Ratio of earnings to fixed charges | 13.8 | 12.3 | 12.5 | 10.1 | 9.0 | 7.6 | 5.9 | |||||||||||||||||||||
