EX-12
Published on March 1, 2018
Exhibit 12
Ball Corporation and Subsidiaries
Ratio of Earnings to Fixed Charges
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($ in millions) |
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2017 |
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2016 |
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2015 |
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2014 |
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2013 |
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Earnings before taxes |
|
$ |
514 |
|
$ |
124 |
|
$ |
346 |
|
$ |
645 |
|
$ |
583 |
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Plus: |
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Interest expensed and capitalized (a) |
|
|
297 |
|
|
349 |
|
|
272 |
|
|
198 |
|
|
216 |
|
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Interest expense within rent |
|
|
24 |
|
|
18 |
|
|
21 |
|
|
26 |
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|
24 |
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Amortization of capitalized interest |
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|
3 |
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|
3 |
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|
4 |
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|
3 |
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|
5 |
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Distributed income of equity investees |
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|
4 |
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|
2 |
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|
2 |
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|
1 |
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2 |
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Less: |
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Interest capitalized |
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(9) |
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(11) |
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(13) |
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(5) |
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(4) |
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Adjusted earnings |
|
$ |
833 |
|
$ |
485 |
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$ |
632 |
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$ |
868 |
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$ |
826 |
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Fixed charges (b) |
|
|
322 |
|
|
367 |
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|
293 |
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|
224 |
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|
239 |
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Ratio of earnings to fixed charges |
|
|
2.6x |
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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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(a) |
Amounts do not include interest for unrecognized tax benefits related to uncertain tax positions. |
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(b) |
Fixed charges include interest expensed and capitalized as well as interest expense within rent. |
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