EXHIBIT 12
SurModics, Inc.
Computation of Ratio of Earnings to Fixed Charges
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| Nine Months Ended |
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| Fiscal Year Ended September 30, |
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| June 30, 2016 |
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| 2015 |
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| 2014 |
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| 2013 |
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| 2012 |
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| 2011 |
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Earnings |
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Pre-tax income from continuing operations |
| $ | 12,847,608 |
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| $ | 18,241,415 |
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| $ | 18,471,862 |
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| $ | 20,359,694 |
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| $ | 16,305,540 |
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| $ | 16,528,559 |
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Add: |
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Fixed charges (build up below) |
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| 1,150,879 |
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| 40,136 |
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| 38,189 |
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| 19,257 |
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| 19,797 |
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| 62,402 |
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Amortization of capitalized interest |
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| — |
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| — |
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| — |
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| — |
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| — |
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| — |
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Distributed income of equity investees |
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| — |
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| — |
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| — |
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| — |
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| — |
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| — |
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Pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges |
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| — |
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| — |
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| — |
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| — |
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| — |
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| — |
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Subtract: |
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Interest capitalized |
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| — |
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| — |
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| — |
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| — |
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| — |
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| — |
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Preference security dividend requirement |
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| — |
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| — |
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| — |
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| — |
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| — |
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| — |
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Non-controlling interest in pre-tax income of subsidiaries that have not incurred fixed charges |
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| — |
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| — |
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| — |
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| — |
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| — |
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| — |
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Total Earnings Available for Fixed Charges |
| $ | 13,998,487 |
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| $ | 18,281,551 |
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| $ | 18,510,051 |
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| $ | 20,378,951 |
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| $ | 16,325,337 |
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| $ | 16,590,961 |
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Fixed charges |
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Interest expensed and capitalized |
| $ | — |
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| $ | — |
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| $ | — |
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| $ | — |
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| $ | — |
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| $ | — |
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Amortized premiums, discounts and capitalized expenses related to indebtedness |
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| 1,070,396 |
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| 17,822 |
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| 16,337 |
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| — |
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| — |
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| — |
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Estimate of interest within rental expense(a) |
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| 80,483 |
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| 22,314 |
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| 21,852 |
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| 19,257 |
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| 19,797 |
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| 62,402 |
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Preference security dividend requirements of consolidated subsidiaries |
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| — |
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| — |
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| — |
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| — |
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| — |
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| — |
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Total Fixed Charges |
| $ | 1,150,879 |
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| $ | 40,136 |
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| $ | 38,189 |
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| $ | 19,257 |
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| $ | 19,797 |
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| $ | 62,402 |
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Ratio of earnings to fixed charges(b) |
| 12.16x |
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| 455.49x |
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| 484.70x |
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| 1058.24x |
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| 824.65x |
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| 265.87x |
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(a) Includes that portion of rental expense that management believes is representative of the interest component.
(b) We had no preferred stock outstanding during the periods presented and accordingly, the ratio of earnings to combined fixed charges and preferred stock dividends is equal to the ratio of earnings to fixed charges and is not disclosed separately.