EX-12 2 rpm-ex12_10.htm EX-12

Exhibit 12

RPM

RATIO OF EARNINGS TO FIXED CHARGES

Periods Ended May 31, 2011 through May 31, 2016

|  | Year Ended May 31,
|  | 2016 |  | 2015 |  | 2014 |  | 2013 |  | 2012 |  | 2011
Ratio of Earnings to Fixed Charges 1 |  | 5.36 |  | 5.29 |  | 5.34 |  | 2.86 |  | 4.84 |  | 4.72

1 Calculated as follows |  |  | (income before income taxes) + (fixed charges) |  |  |
|  |  |  |  | (fixed charges) |  |  |

Fixed charges consist of interest expense, amortized expenses related to debt and an estimate of the interest portion of rental expense.

|  | Year Ended May 31,
(All numbers in thousands) |  | 2016 |  | 2015 |  | 2014 |  | 2013 |  | 2012 |  | 2011
Income before income tax |  | 483,466 |  | 453,253 |  | 424,487 |  | 176,891 |  | 328,289 |  | 295,053
Fixed charges |  | 110,851 |  | 105,549 |  | 97,918 |  | 95,346 |  | 85,579 |  | 79,227
Total |  | 594,317 |  | 558,802 |  | 522,405 |  | 272,237 |  | 413,868 |  | 374,280