EX-12 4 ex12dec2013.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ex12dec2013




EXHIBIT 12

CROWN HOLDINGS, INC.

COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES

 
Twelve months ended
 
Twelve months ended
 
 
12/31/2013
 
12/31/2012
 
Computation of Earnings:
 
 
 
 
 
 
 
 
 
Income before income taxes, minority interests and equity earnings
$576
 
$636
 
 
 
 
 
 
Adjustments to income
 
 
 
 
 
 
 
 
 
     Add: Distributed income from less than 50% owned companies
1
 
1
 
 
 
 
 
 
     Add: Fixed charges as presented below
262
 
256
 
 
 
 
 
 
     Subtract: Interest capitalized
5
 
9
 
 
 
 
 
 
     Add: Amortization of interest previously capitalized
1
 
 
 
 
 
 
 
          Earnings
$845
 
$902
 
 
 
 
 
 
Computation of fixed charges:
 
 
 
 
 
 
 
 
 
     Interest incurred
$226
 
$214
 
 
 
 
 
 
     Interest capitalized
5
 
9
 
 
 
 
 
 
     Amortization of debt related costs
10
 
12
 
 
 
 
 
 
     Portion of rental expense representative of interest (1)
21
 
21
 
 
 
 
 
 
          Total fixed charges
$262
 
$256
 
 
 
 
 
 
          Ratio of earnings to fixed charges
3.2
 
3.5
 

(1)
One-third of net rent expense is the portion deemed representative of the interest factor.