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EXHIBIT 12
JOHNSON CONTROLS, INC.
COMPUTATION OF RATIO OF EARNINGS TO
FIXED CHARGES
(Dollars in millions)
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Nine Months Ended
June 30, 2000
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<S> <C>
Net income.................................................... $321.2
Provision for income taxes.................................... 233.7
Undistributed earnings of partially-owned affiliates.......... (11.4)
Minority interests in net earnings of subsidiaries............ 35.3
Amortization of previously capitalized interest............... 4.7
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583.5
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Fixed charges:
Interest incurred and amortization of debt expense.......... 105.2
Estimated portion of rent expense........................... 38.8
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Fixed charges................................................. 144.0
Less: Interest capitalized during the period.................. (6.9)
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137.1
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Earnings...................................................... $720.6
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Ratio of earnings to fixed charges............................ 5.0
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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.
