EX-12
Published on February 24, 2014
Exhibit 12
Ball Corporation and Subsidiaries
Ratio of Earnings to Fixed Charges
|
($ in millions) |
|
2013 |
|
2012 |
|
2011 |
|
2010 |
|
2009 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Earnings before taxes |
|
$ |
583.6 |
|
$ |
595.6 |
|
$ |
659.8 |
|
$ |
606.4 |
|
$ |
536.6 |
|
|
Plus: |
|
|
|
|
|
|
|
|
|
|
| |||||
|
Interest expensed and capitalized (a) |
|
215.5 |
|
201.1 |
|
185.1 |
|
161.1 |
|
120.8 |
| |||||
|
Interest expense within rent |
|
23.8 |
|
22.8 |
|
22.1 |
|
20.4 |
|
20.9 |
| |||||
|
Amortization of capitalized interest |
|
4.5 |
|
4.4 |
|
4.1 |
|
3.8 |
|
3.7 |
| |||||
|
Distributed income of equity investees |
|
1.6 |
|
0.8 |
|
1.7 |
|
2.2 |
|
|
| |||||
|
Less: |
|
|
|
|
|
|
|
|
|
|
| |||||
|
Interest capitalized |
|
(3.7 |
) |
(6.2 |
) |
(8.0 |
) |
(2.9 |
) |
(3.6 |
) | |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Adjusted earnings |
|
$ |
825.3 |
|
$ |
818.5 |
|
$ |
864.8 |
|
$ |
791.0 |
|
$ |
678.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Fixed charges (b) |
|
239.3 |
|
223.9 |
|
207.2 |
|
181.5 |
|
141.7 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
|
Ratio of earnings to fixed charges |
|
3.4x |
|
3.7x |
|
4.2x |
|
4.4x |
|
4.8x |
| |||||
(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.