EX-12
Published on February 22, 2013
Exhibit 12
Ball Corporation and Subsidiaries
Ratio of Earnings to Fixed Charges
|
($ in millions) |
|
2012 |
|
2011 |
|
2010 |
|
2009 |
|
2008 |
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|
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|
Earnings before taxes |
|
$ |
595.6 |
|
$ |
659.8 |
|
$ |
606.4 |
|
$ |
536.6 |
|
$ |
442.9 |
|
|
Plus: |
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|
|
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|
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Interest expensed and capitalized (a) |
|
201.1 |
|
185.1 |
|
161.1 |
|
120.8 |
|
144.9 |
| |||||
|
Interest expense within rent |
|
22.8 |
|
22.1 |
|
20.4 |
|
20.9 |
|
23.3 |
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|
Amortization of capitalized interest |
|
4.4 |
|
4.1 |
|
3.8 |
|
3.7 |
|
4.0 |
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|
Distributed income of equity investees |
|
0.8 |
|
1.7 |
|
2.2 |
|
|
|
14.2 |
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|
Less: |
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|
|
|
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|
|
|
|
|
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|
Interest capitalized |
|
(6.2 |
) |
(8.0 |
) |
(2.9 |
) |
(3.6 |
) |
(7.2 |
) | |||||
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|
Adjusted earnings |
|
$ |
818.5 |
|
$ |
864.8 |
|
$ |
791.0 |
|
$ |
678.4 |
|
$ |
622.1 |
|
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|
Fixed charges (b) |
|
223.9 |
|
207.2 |
|
181.5 |
|
141.7 |
|
168.2 |
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|
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|
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Ratio of earnings to fixed charges |
|
3.7x |
|
4.2x |
|
4.4x |
|
4.8x |
|
3.7x |
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(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.