Exhibit 12
THE TORO COMPANY AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(Not Covered by Independent Auditors' Report)
|
|
Years Ended
|
|
|
|
|
|
|
3 Months Ended
Ended
10/31/95
|
|
Year
Ended
7/31/95
|
|
|
10/31/99
|
|
10/31/98
|
|
10/31/97
|
|
10/31/96
|
| Earnings before income taxes |
|
$ |
57,473,000 |
|
$ |
6,761,000 |
|
$ |
60,344,000 |
|
$ |
60,180,000 |
|
$ |
6,606,0000 |
|
$ |
61,112,000 |
| Plus: Fixed charges |
|
|
28,345,000 |
|
|
29,375,000 |
|
|
23,186,000 |
|
|
16,728,000 |
|
|
3,266,000 |
|
|
14,892,000 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Earnings available to cover fixed charges |
|
$ |
85,818,000 |
|
$ |
36,136,000 |
|
$ |
83,530,000 |
|
$ |
76,908,000 |
|
$ |
9,872,000 |
|
$ |
76,004,000 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Ratio of earnings to fixed charges |
|
|
3.03 |
|
|
1.23 |
|
|
3.60 |
|
|
4.60 |
|
|
3.02 |
|
|
5.10 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest Expense |
|
$ |
23,913,000 |
|
$ |
25,428,000 |
|
$ |
19,900,000 |
|
$ |
13,590,000 |
|
$ |
2,532,000 |
|
$ |
11,902,000 |
| Rentals (Interest factor) |
|
|
4,432,000 |
|
|
3,987,000 |
|
|
3,286,000 |
|
|
3,138,000 |
|
|
734,000 |
|
|
2,990,000 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Total fixed charges |
|
$ |
28,345,000 |
|
$ |
29,375,000 |
|
$ |
23,186,000 |
|
$ |
16,728,000 |
|
$ |
3,266,000 |
|
$ |
14,892,000 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
