Attached files
file | filename |
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EX-3.1 - EXHIBIT 3.1 - Zoetis Inc. | zoetis2014629-ex31.htm |
EX-31.2 - EXHIBIT 31.2 - Zoetis Inc. | zoetis-2014629xex312.htm |
EX-31.1 - EXHIBIT 31.1 - Zoetis Inc. | zoetis-2014629xex311.htm |
EX-32.2 - EXHIBIT 32.2 - Zoetis Inc. | zoetis-2014629xex322.htm |
EX-32.1 - EXHIBIT 32.1 - Zoetis Inc. | zoetis-2014629xex321.htm |
EX-15 - EXHIBIT 15 - Zoetis Inc. | zoetis-2014629xex15.htm |
EXCEL - IDEA: XBRL DOCUMENT - Zoetis Inc. | Financial_Report.xls |
10-Q - 10-Q - Zoetis Inc. | zoetis-2014629x10q2q.htm |
EX-10.2 - EXHIBIT 10.2 - Zoetis Inc. | exhibit102_severanceagreem.htm |
Exhibit 12
ZOETIS INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES(a)
Six Months | ||||||||||||||||||||
Ended | ||||||||||||||||||||
June 29, | Year Ended December 31, | |||||||||||||||||||
(IN MILLIONS, EXCEPT RATIOS) | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||
Determination of earnings: | ||||||||||||||||||||
Income before provision for taxes on income | ||||||||||||||||||||
and noncontrolling interests | $ | 427 | $ | 690 | $ | 710 | $ | 394 | $ | 178 | ||||||||||
Less: Net income/(loss) attributable to noncontrolling interests | 3 | (1 | ) | — | 3 | 1 | ||||||||||||||
Income attributable to Zoetis Inc. | 424 | 691 | 710 | 391 | 177 | |||||||||||||||
Add: fixed charges | 64 | 127 | 37 | 43 | 43 | |||||||||||||||
Total earnings as defined | $ | 488 | $ | 818 | $ | 747 | $ | 434 | $ | 220 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense, net of capitalized interest(a) | $ | 58 | $ | 113 | $ | 31 | $ | 36 | $ | 37 | ||||||||||
Capitalized interest | 2 | 3 | — | — | — | |||||||||||||||
Interest portion of rent expense(b) | 4 | 11 | 6 | 7 | 6 | |||||||||||||||
Fixed charges | 64 | 127 | 37 | 43 | 43 | |||||||||||||||
Ratio of earning to fixed charges | 7.6 | 6.4 | 20.2 | 10.1 | 5.1 |
(a) | Interest expense includes amortization of debt discount and fees. Interest expense does not include interest related to uncertain tax positions. |
(b) | One-third of all rental expense is deemed to be interest, which we believe to be a conservative estimate of an interest factor in our leases. |