EX-12.1 6 c75436exv12w1.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES . . . EXHIBIT 12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES CORN PRODUCTS INTERNATIONAL, INC. COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(in millions, except ratios) 2002 2001 2000 1999 1998 ---------- ---------- ---------- ---------- ---------- *Income before income taxes and minority interest $ 121.4 $ 102.1 $ 121.9 $ 122.0 $ 71.0 Fixed charges 41.4 62.1 69.6 47.3 24.0 Capitalized interest (1.3) (2.0) (9.4) (6.3) (3.7) ---------- ---------- ---------- ---------- ---------- $ 161.5 $ 162.2 $ 182.1 $ 163.0 $ 91.3 ========== ========== ========== ========== ========== RATIO OF EARNINGS TO FIXED CHARGES 3.90 2.61 2.62 3.45 3.80 ========== ========== ========== ========== ========== FIXED CHARGES: Interest expense on debt $ 39.3 $ 60.5 $ 68.1 $ 45.8 $ 22.5 Amortization of discount on debt 0.9 0.2 0.2 -- -- Interest portion of rental expense on operating leases 1.2 1.4 1.3 1.5 1.5 ---------- ---------- ---------- ---------- ---------- Total $ 41.4 $ 62.1 $ 69.6 $ 47.3 $ 24.0 ========== ========== ========== ========== ========== Income before income taxes and minority interest $ 117.1 $ 102.1 $ 101.9 $ 122.0 $ 71.0 Restructuring charges 4.3 0.0 20.0 0.0 0.0 ---------- ---------- ---------- ---------- ---------- Adj. Income $ 121.4 $ 102.1 $ 121.9 $ 122.0 $ 71.0 ========== ========== ========== ========== ==========
* - Income before income taxes and minority interest does not include restructuring charges.