EXHIBIT 12
AMETEK, Inc.
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
(Dollars in thousands)
2001 2000 1999 1998 1997
-------- -------- -------- -------- -------
Earnings:
Income from continuing operations $66,111 $68,532 $60,768 $50,449 $50,264
Income tax expense 18,251 37,606 33,693 26,909 27,930
Interest expense-gross 28,505 29,460 25,396 24,121 18,499
Capitalized interest (592) (257) (620) (462) (318)
Amortization of debt financing costs(1) - - - - -
Interest portion of rental expense(est.) 2,982 2,713 2,307 2,249 1,944
-------- -------- -------- -------- -------
Adjusted earnings $115,257 $138,054 $121,544 $103,266 $98,319
======== ======== ======== ======== =======
Fixed Charges:
Interest expense, net of capitalized
interest $27,913 $29,203 $24,776 $23,659 $18,181
Capitalized interest 592 257 620 462 318
Interest portion of rental expense 2,982 2,713 2,307 2,249 1,944
-------- -------- -------- -------- -------
Fixed charges $31,487 $32,173 $27,703 $26,370 $20,443
======== ======== ======== ======== =======
Ratio of adjusted earnings to -------- -------- -------- -------- -------
fixed charges 3.7x 4.3x 4.4x 3.9x 4.8x
======== ======== ======== ======== =======