Attached files
| file | filename |
|---|---|
| EX-10.20 - EXHIBIT 10.20 - Zoetis Inc. | ex1020revolvingcreditagree.htm |
| EX-3.2 - EXHIBIT 3.2 - Zoetis Inc. | ex32zoetisbylawsamendedand.htm |
| 10-K - 10-K - Zoetis Inc. | zoetis-20151231x10kye.htm |
| EX-31.1 - EXHIBIT 31.1 - Zoetis Inc. | ex31120151231.htm |
| EX-23 - EXHIBIT 23 - Zoetis Inc. | ex23-20151231.htm |
| EX-31.2 - EXHIBIT 31.2 - Zoetis Inc. | ex312-20151231.htm |
| EX-32.2 - EXHIBIT 32.2 - Zoetis Inc. | ex322-20151231.htm |
| EX-32.1 - EXHIBIT 32.1 - Zoetis Inc. | ex321-20151231.htm |
| EX-21.1 - EXHIBIT 21.1 - Zoetis Inc. | exhibit2112015.htm |
Exhibit 12
ZOETIS INC. AND SUBSIDIARY COMPANIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31, | ||||||||||||||||||||
(IN MILLIONS, EXCEPT RATIOS) | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
Determination of earnings: | ||||||||||||||||||||
Income before provision for taxes on income | ||||||||||||||||||||
and noncontrolling interests | $ | 545 | $ | 820 | $ | 690 | $ | 710 | $ | 394 | ||||||||||
Net income/(loss) attributable to noncontrolling interests | — | 4 | (1 | ) | — | 3 | ||||||||||||||
Income attributable to Zoetis Inc. | 545 | 816 | 691 | 710 | 391 | |||||||||||||||
Add: fixed charges | 137 | 131 | 127 | 37 | 43 | |||||||||||||||
Total earnings as defined | $ | 682 | $ | 947 | $ | 818 | $ | 747 | $ | 434 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense, net of capitalized interest(a) | $ | 124 | $ | 117 | $ | 113 | $ | 31 | $ | 36 | ||||||||||
Capitalized interest | 4 | 4 | 3 | — | — | |||||||||||||||
Interest portion of rent expense(b) | 9 | 10 | 11 | 6 | 7 | |||||||||||||||
Total Fixed charges | 137 | 131 | 127 | 37 | 43 | |||||||||||||||
Ratio of earnings to fixed charges | 5.0 | 7.2 | 6.4 | 20.2 | 10.1 | |||||||||||||||
(a) | Interest expense, net of capitalized interest, 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. |