EX-12
Published on February 16, 2016
Exhibit 12
Ball Corporation and Subsidiaries
Ratio of Earnings to Fixed Charges
|
($ in millions) |
|
2015 |
|
2014 |
|
2013 |
|
2012 |
|
2011 |
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|
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|
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Earnings before taxes |
|
$ |
345.5 |
|
$ |
645.6 |
|
$ |
583.6 |
|
$ |
595.6 |
|
$ |
659.8 |
|
|
Plus: |
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|
|
|
|
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|
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|
Interest expensed and capitalized (a) |
|
272.5 |
|
198.1 |
|
215.5 |
|
201.1 |
|
185.1 |
| |||||
|
Interest expense within rent |
|
20.6 |
|
25.6 |
|
23.8 |
|
22.8 |
|
22.1 |
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|
Amortization of capitalized interest |
|
3.9 |
|
3.5 |
|
4.5 |
|
4.4 |
|
4.1 |
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|
Distributed income of equity investees |
|
2.0 |
|
0.6 |
|
1.6 |
|
0.8 |
|
1.7 |
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|
Less: |
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|
|
|
|
|
|
|
|
|
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|
Interest capitalized |
|
(12.8 |
) |
(5.1 |
) |
(3.7 |
) |
(6.2 |
) |
(8.0 |
) | |||||
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|
Adjusted earnings |
|
$ |
631.7 |
|
$ |
868.3 |
|
$ |
825.3 |
|
$ |
818.5 |
|
$ |
864.8 |
|
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|
Fixed charges (b) |
|
293.1 |
|
223.7 |
|
239.3 |
|
223.9 |
|
207.2 |
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|
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|
|
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|
|
|
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|
Ratio of earnings to fixed charges |
|
2.2x |
|
3.9x |
|
3.4x |
|
3.7x |
|
4.2x |
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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.