Snap-on (SNA) 10-K 2015 FY Annual report

EXHIBIT 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

	2015		2014		2013		2012		2011
Earnings before income taxes and equity earnings	$	710.5	$	630.9	$	526.2	$	460.2	$	412.9
Distributed income of equity investees		–		–		–		–		5.0
Earnings before income taxes and equity earnings, as adjusted	$	710.5	$	630.9	$	526.2	$	460.2	$	417.9
Fixed charges:
Interest on debt	$	51.0	$	51.8	$	55.3	$	55.2	$	60.4
Interest element of rentals		2.7		2.9		2.7		2.4		2.7
Total fixed charges	$	53.7	$	54.7	$	58.0	$	57.6	$	63.1
Total adjusted earnings available for payment of fixed charges	$	764.2	$	685.6	$	584.2	$	517.8	$	481.0
Ratio of earnings to fixed charges		14.2		12.5		10.1		9.0		7.6

2015 ANNUAL REPORT 113