EXHIBIT 12.1
C. R. BARD, INC. AND SUBSIDIARIES
Exhibit 12.1 - Computation of Ratio of Earnings to Fixed Charges
Three Months Ended March 31, 2017 | Years Ended December 31, | |||||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||||
(dollars in millions) | ||||||||||||||||||||||||
Earnings from operations before taxes | $ | 201.5 | $ | 663.7 | $ | 349.4 | $ | 445.8 | $ | 1,213.4 | $ | 732.4 | ||||||||||||
Add (Deduct): | ||||||||||||||||||||||||
Fixed charges | 17.3 | 63.2 | 52.8 | 52.9 | 52.4 | 46.1 | ||||||||||||||||||
Undistributed earnings of equity investments | — | — | 0.4 | 0.3 | (1.0 | ) | (9.6 | ) | ||||||||||||||||
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Earnings available for fixed charges | $ | 218.8 | $ | 726.9 | $ | 402.6 | $ | 499.0 | $ | 1,264.8 | $ | 768.9 | ||||||||||||
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Fixed charges: | ||||||||||||||||||||||||
Interest, including amounts capitalized(1) | $ | 15.1 | $ | 54.5 | $ | 44.9 | $ | 44.8 | $ | 45.0 | $ | 39.6 | ||||||||||||
Proportion of rent expense deemed to represent interest factor | 2.2 | 8.7 | 7.9 | 8.1 | 7.4 | 6.5 | ||||||||||||||||||
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Fixed charges | $ | 17.3 | $ | 63.2 | $ | 52.8 | $ | 52.9 | $ | 52.4 | $ | 46.1 | ||||||||||||
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Ratio of earnings to fixed charges | 12.65 | 11.50 | 7.63 | 9.43 | 24.14 | 16.68 | ||||||||||||||||||
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(1) | Interest related to unrecognized tax benefits is included as income tax expense and not included in fixed charges. |