STATEMENT RE COMPUTATION OF RATIOS
Published on March 31, 2005
EXHIBIT 12
RATIO OF EARNINGS TO FIXED CHARGES
|
Fiscal Year |
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|
2005 |
2004 |
2003 |
2002 |
2001 |
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| Income from continuing operations before income tax |
$ | 16,105 | $ | 14,193 | $ | 12,368 | $ | 10,396 | $ | 9,783 | ||||||||||
| Capitalized interest |
(120 | ) | (144 | ) | (124 | ) | (130 | ) | (93 | ) | ||||||||||
| Minority interest |
(249 | ) | (214 | ) | (193 | ) | (183 | ) | (129 | ) | ||||||||||
| Adjusted income from continuing operations before income taxes |
15,736 | 13,835 | 12,051 | 10,083 | 9,561 | |||||||||||||||
| Fixed charges: |
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| Interest* |
1,332 | 1,157 | 1,191 | 1,491 | 1,486 | |||||||||||||||
| Interest component of rent |
319 | 306 | 318 | 289 | 245 | |||||||||||||||
| Total fixed charges |
1,651 | 1,463 | 1,509 | 1,780 | 1,731 | |||||||||||||||
| Income from continuing operations before income taxes and fixed charges |
$ | 17,387 | $ | 15,298 | $ | 13,560 | $ | 11,863 | $ | 11,292 | ||||||||||
| Ratio of Earnings to Fixed Charges |
10.53x | 10.46x | 8.99x | 6.66x | 6.52x | |||||||||||||||
| * | Includes interest on debt and capital leases, amortization of debt issuance costs and capitalized interest. |
Certain reclassifications have been made to prior periods to conform to the current period presentation. In addition, the impact of McLane Company, Inc. as a discontinued operation has been removed for all periods presented.