EX-12 2 rpm-ex12_8.htm EX-12

Exhibit No. 12

RPM

RATIO OF EARNINGS TO FIXED CHARGES

Periods Ended May 31, 2012 through May 31, 2016 and November 30, 2016

|  |  |  | Six Months Ended |  |  | Year Ended May 31, |
|  |  |  | November 30, 2016 |  |  | 2016 |  |  | 2015 |  |  | 2014 |  |  | 2013 |  |  | 2012 |
Ratio of Earnings to Fixed Charges 1 |  | 1.83 |  |  |  | 5.36 |  |  |  | 5.29 |  |  |  | 5.34 |  |  |  | 2.86 |  |  |  | 4.84 |

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.

|  |  |  | Six Months Ended |  |  | Year Ended May 31, |
(All numbers in thousands) | November 30, 2016 |  |  | 2016 |  |  | 2015 |  |  | 2014 |  |  | 2013 |  |  | 2012 |
Income before income tax |  | 41,618 |  |  |  | 483,466 |  |  |  | 453,253 |  |  |  | 424,487 |  |  |  | 176,891 |  |  |  | 328,289 |
Fixed charges |  | 50,395 |  |  |  | 110,851 |  |  |  | 105,549 |  |  |  | 97,918 |  |  |  | 95,346 |  |  |  | 85,579 |
Total |  | 92,013 |  |  |  | 594,317 |  |  |  | 558,802 |  |  |  | 522,405 |  |  |  | 272,237 |  |  |  | 413,868 |