EXHIBIT 12.2
THERMO ELECTRON CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSANDS)
NINE
FISCAL YEAR MONTHS
------------------------------------------------------------ ENDED
SEPT. 27,
1992 1993 1994 1995 1996 1997
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Income before provision for income taxes
and cumulative effect of change in
accounting principle............................... $ 88,673 $110,381 $175,414 $238,293 $301,661 $288,448
Less:
Minority interest in losses of
consolidated subsidiaries..................... (281) (215) - (789) (1,797) (5,637)
Add:
Minority interest in consolidated
Subsidiaries with fixed charges............... 14,183 21,301 30,962 61,044 74,306 58,060
Interest on indebteness and
amortization of debt expense.................. 24,322 31,736 59,844 77,861 96,695 67,794
Portion of rents representative of the
interest factor/(1)/.......................... 15,208 15,621 15,806 16,251 20,856 17,559
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Income, As Adjusted........................ $142,105 $178,824 $282,026 $392,660 $491,721 $426,224
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Fixed Charges:
Interest on indebtedness and
amortization of debt expense.................. $ 24,322 $ 31,736 $ 59,844 $ 77,861 $ 96,695 $ 67,794
Portion of rents representative of the
interest factor/(1)/.......................... 15,208 15,621 15,806 16,251 20,856 17,559
Capitalized interest............................ 7,100 8,400 2,114 - - -
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Fixed Charges.............................. $ 46,630 $ 55,757 $ 77,764 $ 94,112 $117,551 $ 85,353
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Ratio of Earnings to Fixed Charges................... 3.05 3.21 3.63 4.17 4.18 4.99
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(1) Portion of rents representative of the interest factor is 1/3 of total
rents.