. . . EXHIBIT 12 AMETEK, INC. STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (DOLLARS IN THOUSANDS) EARNINGS: 2004 2003 2002 2001 2000 -------- --------- --------- --------- --------- Income from continuing operations $112,711 $ 87,815 $ 83,698 $ 66,111 $ 68,532 Income tax expense 53,068 42,272 39,200 18,251 37,606 Interest expense - gross 28,343 26,063 25,498 28,505 29,460 Capitalized interest - (46) (317) (592) (257) Amortization of debt financing costs (1) - - - - - Interest portion of rental expense (est.) 3,757 2,998 2,839 2,982 2,713 -------- --------- --------- --------- --------- Adjusted earnings $197,879 $ 159,102 $ 150,918 $ 115,257 $ 138,054 ======== ========= ========= ========= ========= FIXED CHARGES: Interest expense, net of capitalized interest $ 28,343 $ 26,017 $ 25,181 $ 27,913 $ 29,203 Capitalized interest - 46 317 592 257 Interest portion of rental expense 3,757 2,998 2,839 2,982 2,713 -------- --------- --------- --------- --------- Fixed charges $ 32,100 $ 29,061 $ 28,337 $ 31,487 $ 32,173 ======== ========= ========= ========= ========= RATIO OF ADJUSTED EARNINGS TO -------- --------- --------- --------- --------- FIXED CHARGES 6.2x 5.5x 5.3x 3.7x 4.3x ======== ========= ========= ========= ========= - -------------- (1) - Included in interest expense.