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Previous: JOHNSON CONTROLS INC, 10-K405, 2000-12-22 |
Next: JOHNSON CONTROLS INC, 10-K405, EX-13, 2000-12-22 |
<PAGE> 1
EXHIBIT 12
JOHNSON CONTROLS, INC.
COMPUTATION OF RATIO OF EARNINGS TO
FIXED CHARGES
(Dollars in millions)
<TABLE>
<CAPTION>
For the Year Ended
September 30, 2000
---------------------------------
<S> <C>
Net income $472.4
Provision for income taxes 338.9
Undistributed earnings of partially-owned affiliates (16.3)
Minority interests in net earnings of subsidiaries 44.4
Amortization of previously capitalized interest 6.0
---------
845.4
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Fixed charges:
Interest incurred and amortization of debt expense 140.1
Estimated portion of rent expense 55.7
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Fixed charges 195.8
Less: Interest capitalized during the period (10.0)
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185.8
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Earnings $1,031.2
=========
Ratio of earnings to fixed charges 5.3
=========
</TABLE>
For the purpose of computing this ratio, "earnings" consist of (a)
income from continuing operations before income taxes (adjusted for
undistributed earnings or recognized losses of partially-owned
affiliates, minority interest in earnings or losses of consolidated
subsidiaries, and amortization of previously capitalized interest),
plus (b) fixed charges, minus (c) interest capitalized during the
period. "Fixed charges" consist of (a) interest incurred and
amortization of debt expense plus (b) the portion of rent expense
representative of the interest factor.
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