Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - JOHNSON CONTROLS INC | c55238e10vq.htm |
| EX-32 - EX-32 - JOHNSON CONTROLS INC | c55238exv32.htm |
| EX-15 - EX-15 - JOHNSON CONTROLS INC | c55238exv15.htm |
| EX-31.1 - EX-31.1 - JOHNSON CONTROLS INC | c55238exv31w1.htm |
| EX-31.2 - EX-31.2 - JOHNSON CONTROLS INC | c55238exv31w2.htm |
| EXCEL - IDEA: XBRL DOCUMENT - JOHNSON CONTROLS INC | Financial_Report.xls |
EXHIBIT 12
JOHNSON CONTROLS, INC.
RATIO OF EARNINGS TO FIXED CHARGES
The following table shows our ratio of earnings to fixed charges for the quarter ended December 31,
2009 and year ended September 30, 2009:
| Quarter Ended | Year Ended | |||||||
| (Dollars in millions) | December 31, 2009 | September 30, 2009 | ||||||
Net income (loss) attributable to Johnson Controls, Inc. |
$ | 350.0 | $ | (337.8 | ) | |||
Provision for income taxes |
4.9 | 32.5 | ||||||
Income (loss) attributable to noncontrolling interests |
15.7 | (12.2 | ) | |||||
(Income) loss from equity affiliates |
(53.1 | ) | 76.8 | |||||
Distributed income of equity affiliates |
40.8 | 158.3 | ||||||
Amortization of previously capitalized interest |
2.7 | 10.3 | ||||||
Fixed charges less capitalized interest |
70.3 | 492.1 | ||||||
Earnings |
$ | 431.3 | $ | 420.0 | ||||
Fixed charges: |
||||||||
Interest incurred and amortization of debt expense |
$ | 39.0 | $ | 374.7 | ||||
Estimated portion of rent expense |
34.8 | 134.5 | ||||||
Fixed charges |
73.8 | 509.2 | ||||||
Less: Interest capitalized during the period |
(3.5 | ) | (17.1 | ) | ||||
Fixed charges less capitalized interest |
$ | 70.3 | $ | 492.1 | ||||
Ratio of earnings to fixed charges |
5.8 | * | ||||||
| * | The ratio coverage for the year ended September 30, 2009 was less than 1:1. The Company must generate additional earnings of $89.2 million to achieve a coverage ratio of 1:1. |
For the purposes of computing this ratio, “earnings” consist of net income or loss attributable to
Johnson Controls, Inc. from continuing operations before income taxes, income or loss attributable
to noncontolling interests and income from equity affiliates plus (a) amortization of previously
capitalized interest, (b) distributed income from equity affiliates and (c) fixed charges, minus
interest capitalized during the period. “Fixed charges” consist of (i) interest incurred and
amortization of debt expense plus (ii) the portion of rent expense representative of the interest
factor.