EX-12
Published on March 2, 2017
Exhibit 12
Ball Corporation and Subsidiaries
Ratio of Earnings to Fixed Charges
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($ in millions) |
|
2016 |
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2015 |
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2014 |
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2013 |
|
2012 |
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Earnings before taxes |
|
$ |
124 |
|
$ |
346 |
|
$ |
645 |
|
$ |
583 |
|
$ |
596 |
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Plus: |
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Interest expensed and capitalized (a) |
|
|
349 |
|
|
272 |
|
|
198 |
|
|
216 |
|
|
201 |
|
|
Interest expense within rent |
|
|
18 |
|
|
21 |
|
|
26 |
|
|
24 |
|
|
23 |
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Amortization of capitalized interest |
|
|
3 |
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|
4 |
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|
3 |
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|
5 |
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|
4 |
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Distributed income of equity investees |
|
|
2 |
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|
2 |
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|
1 |
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|
2 |
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|
1 |
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Less: |
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Interest capitalized |
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(11) |
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(13) |
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(5) |
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(4) |
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(6.0) |
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Adjusted earnings |
|
$ |
485 |
|
$ |
632 |
|
$ |
868 |
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$ |
826 |
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$ |
819 |
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Fixed charges (b) |
|
|
367 |
|
|
293 |
|
|
224 |
|
|
239 |
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|
224 |
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Ratio of earnings to fixed charges |
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|
1.3x |
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2.2x |
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3.9x |
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3.4x |
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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. |
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