Exhibit 12

 

Ball Corporation and Subsidiaries

Ratio of Earnings to Fixed Charges

 

($ in millions)

    

2016

    

2015

    

2014

    

2013

    

2012

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before taxes

 

$

124 

 

$

346 

 

$

645 

 

$

583 

 

$

596 

 

Plus:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expensed and capitalized (a)

 

 

349 

 

 

272 

 

 

198 

 

 

216 

 

 

201 

 

Interest expense within rent

 

 

18 

 

 

21 

 

 

26 

 

 

24 

 

 

23 

 

Amortization of capitalized interest

 

 

 

 

 

 

 

 

 

 

 

Distributed income of equity investees

 

 

 

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest capitalized

 

 

(11)

 

 

(13)

 

 

(5)

 

 

(4)

 

 

(6.0)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted earnings

 

$

485 

 

$

632 

 

$

868 

 

$

826 

 

$

819 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges (b)

 

 

367 

 

 

293 

 

 

224 

 

 

239 

 

 

224 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 

1.3x 

 

 

2.2x 

 

 

3.9x 

 

 

3.4x 

 

 

3.7x 

 


(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.

 

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