RATIO OF EARNINGS TO FIXED CHARGES
Published on March 12, 2004
Exhibit 12.1
Ball Corporation and
Subsidiaries
Ratio of Earnings to Fixed Charges
|
($ in millions) |
2003 |
2002 |
2001 |
2000 |
1999 |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings (loss) before taxes | $ | 319.7 | $ | 230.2 | $ | (113. | 7) | $ | 113.9 | $ | 171.2 | ||||||
| Plus: | |||||||||||||||||
| Interest expensed and capitalized | 144.2 | 83.2 | 89.7 | 98.5 | 109.6 | ||||||||||||
| Interest expense within rent | 22.6 | 17.1 | 21.7 | 25.4 | 18.0 | ||||||||||||
| Amortization of capitalized interest | 1.9 | 2.0 | 2.3 | 2.0 | 1.9 | ||||||||||||
| Distributed income of equity | |||||||||||||||||
| investees | 4.5 | -- | -- | -- | 1.5 | ||||||||||||
| Less: | |||||||||||||||||
| Interest capitalized | (3.1 | ) | (2.4 | ) | (1.4 | ) | (3.3 | ) | (2.0 | ) | |||||||
| Adjusted earnings (loss) | 489.8 | 330.1 | (1.4 | ) | 236.5 | 300.2 | |||||||||||
| Fixed charges (1) | 166.8 | 100.3 | 111.4 | 123.9 | 127.6 | ||||||||||||
| Ratio of earnings to fixed charges | 2.9x | 3.3x | 0.0x | (2) | 1.9x | 2.4x | |||||||||||
(1) Fixed charges include interest expensed and capitalized as well as interest expense within rent.
(2) During 2001 there was a deficiency of earnings to fixed charges of $112.8 million.