CUMMINS INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Three months ended
March 30, 2014
Income before income taxes
Distributed income of equity investees
Equity in earnings of investees
Earnings before fixed charges
Amortization of debt discount and deferred costs
Interest portion of rental expense (2)
Total fixed charges
Ratio of earnings to fixed charges (3)
(1) The interest amount in the table above does not include interest expense associated with uncertain tax positions.
(2) Amounts represent those portions of rent expense that are reasonable approximations of interest costs.
(3) We have not issued preferred stock. Therefore, the ratio of earnings to combined fixed charges and preferred stock dividends are the same as the ratios presented above.