Annual Report — [x] Reg. S-K Item 405 — Form 10-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 10-K405 Form 10-K 58 296K
2: EX-10.J Installment Option Purchase Agreement W/ Hirsch 2 11K
3: EX-11 Statement Re Computation of Per Share Earnings 1 8K
4: EX-12 Statement of Computation of Ratio of Earnings 2± 10K
5: EX-21 Subsidiaries of the Registrant 1 9K
6: EX-27 Financial Data Schedule 1 7K
EX-12 — Statement of Computation of Ratio of Earnings
EXHIBIT 12
UNITED STATES SURGICAL CORPORATION AND SUBSIDIARIES
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
[Enlarge/Download Table]
Years Ended December 31,
--------------------------------------------------------------------------
1994 1993 1992 1991 1990
---- ---- ---- ---- ----
Determination of earnings:
Income (loss) before provision for
income taxes . . . . . . . . . . . . . $32,700 $(137,400) $192,900 $130,300 $66,200
Fixed charges . . . . . . . . . . . . . 28,400 29,900 22,600 16,900 12,800
------ ------- ------- ------- -------
Total earnings as defined . . . . 61,100 (107,500) 215,500 147,200 79,000
------ ------- ------- ------- -------
Fixed charges and other:
Interest expense . . . . . . . . . . . . 18,200 18,500 14,700 12,000 9,800
Interest portion of rent expense . . . . 10,200 11,400 7,900 4,900 3,000
------ -------- ------- ------- -------
Fixed charges . . . . . . . . . . 28,400 29,900 22,600 16,900 12,800
Capitalized interest . . . . . . . . . . 300 9,500 6,400 2,700 1,400
------ -------- ------- ------- -------
Total fixed charges and capitalized
interest . . . . . . . . . . . . . . . $28,700 $ 39,400 $ 29,000 $ 19,600 $14,200
====== ======== ======== ======== ======
Preferred stock dividends (1) . . . . . 22,900
------
Combined fixed charges, capitalized
interest and preferred stock
dividends . . . . . . . . . . . . . . . $51,600
======
Ratio of Earnings to Fixed Charges
and Capitalized Interest . . . . . . . . 2.1 N.M.(2) 7.4 7.5 5.6
====== ======= ======== ======== =======
Ratio of Earnings to Combined
Fixed Charges, Capitalized Interest
and Preferred Stock Dividends . . . . . 1.2
======
The ratio of earnings to fixed charges and capitalized interest and to combined
fixed charges, capitalized interest and preferred stock dividends is computed
by dividing the sum of earnings before provision for income taxes and fixed
charges (excluding capitalized interest) by total fixed charges and capitalized
interest, or by the sum of total fixed charges and capitalized interest and
preferred stock dividends. Total fixed charges and capitalized interest
includes all interest (including capitalized interest) and the interest factor
of all rentals, assumed to be one-third of consolidated rent expense.
(1) Preferred stock dividends have been increased to an amount representing
the pretax earnings which would be required to cover such dividend
requirements, assuming a statutory tax rate of 35%.
(2) Earnings are inadequate to cover fixed charges. The dollar amount of the
deficiency at 12/31/93 is $147 million. If the restructuring charges of $138
million were excluded from the calculation, the dollar amount of the deficiency
would have been $9 million.
↑Top
Filing Submission 0000950123-95-000241 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
Copyright © 2024 Fran Finnegan & Company LLC – All Rights Reserved.
About — Privacy — Redactions — Help —
Fri., Mar. 29, 10:27:28.1am ET