Form: 10-K

Annual report pursuant to Section 13 and 15(d)

February 22, 2012

Exhibit 12

 

Ball Corporation and Subsidiaries

Ratio of Earnings to Fixed Charges

 

($ in millions)

 

2011

 

2010

 

2009

 

2008

 

2007

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before taxes

 

$

659.8

 

$

606.4

 

$

536.6

 

$

442.9

 

$

334.1

 

Plus:

 

 

 

 

 

 

 

 

 

 

 

Interest expensed and capitalized (a)

 

185.1

 

161.1

 

120.8

 

144.9

 

155.2

 

Interest expense within rent

 

22.1

 

20.4

 

20.9

 

23.3

 

23.7

 

Amortization of capitalized interest

 

4.1

 

3.8

 

3.7

 

4.0

 

2.5

 

Distributed income of equity investees

 

1.7

 

2.2

 

—

 

14.2

 

12.9

 

Less:

 

 

 

 

 

 

 

 

 

 

 

Interest capitalized

 

(8.0

)

(2.9

)

(3.6

)

(7.2

)

(5.8

)

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted earnings

 

$

864.8

 

$

791.0

 

$

678.4

 

$

622.1

 

$

522.6

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges (b)

 

207.2

 

181.5

 

141.7

 

168.2

 

178.9

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

4.2x

 

4.4x

 

4.8x

 

3.7x

 

2.9x

 

 


(a)         Amounts do not include interest for unrecognized tax benefits related to uncertain tax positions.

(b)         Fixed charges include interest expensed and capitalized as well as interest expense within rent.

 

1