RATIO OF EARNINGS TO FIXED CHARGES
Published on February 22, 2007
Exhibit
12
Ball
Corporation and Subsidiaries
Ratio
of Earnings to Fixed Charges
|
($
in millions)
|
2006
|
2005
|
2004
|
2003
|
2002
|
|||||||||||
|
Earnings before
taxes (a)
|
$
|
446.9
|
$
|
363.6
|
$
|
445.9
|
$
|
323.5
|
$
|
224.4
|
||||||
|
Plus:
|
||||||||||||||||
|
Interest
expensed and capitalized
|
142.5
|
121.7
|
105.8
|
144.2
|
83.2
|
|||||||||||
|
Interest
expense within rent
|
27.7
|
25.6
|
24.8
|
22.6
|
17.1
|
|||||||||||
|
Amortization
of capitalized interest
|
2.9
|
2.9
|
1.8
|
1.9
|
2.0
|
|||||||||||
|
Distributed
income of equity investees
|
6.0
|
11.6
|
8.4
|
4.5
|
–
|
|||||||||||
|
Less:
|
||||||||||||||||
|
Interest
capitalized
|
(8.1
|
)
|
(5.3
|
)
|
(2.1
|
)
|
(3.1
|
)
|
(2.4
|
)
|
||||||
|
Adjusted
earnings (a)
|
$
|
634.1
|
$
|
520.1
|
$
|
584.6
|
$
|
493.6
|
$
|
324.3
|
||||||
|
Fixed
charges (b)
|
170.2
|
147.3
|
130.6
|
166.8
|
100.3
|
|||||||||||
|
Ratio
of earnings to fixed charges
|
3.6x
|
3.5x
|
4.5x
|
3.0x
|
3.2x
|
|||||||||||
| (a) |
Amounts
have been retrospectively adjusted for the company’s change in 2006 from
the last-in, first-out method of inventory accounting to the first-in,
first-out method.
|
| (b) |
Fixed
charges include interest expensed and capitalized as well as interest
expense within
rent.
|