EX-12 2 ex12dec2016.htm RATIO OF EARNINGS TO FIXED CHARGES Exhibit




EXHIBIT 12

CROWN HOLDINGS, INC.

COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES

 
Twelve months ended
 
Twelve months ended
 
 
12/31/2016
 
12/31/2015
 
Computation of Earnings:
 
 
 
 
 
 
 
 
 
Income before income taxes, minority interests and equity earnings
$769
 
$639
 
 
 
 
 
 
Adjustments to income
 
 
 
 
 
 
 
 
 
     Add: Distributed income from less than 50% owned companies
 
 
—
 
 
 
 
 
 
     Add: Fixed charges as presented below
270
 
290
 
 
 
 
 
 
     Subtract: Interest capitalized
(9)
 
(2)
 
 
 
 
 
 
     Add: Amortization of interest previously capitalized
3
 
2
 
 
 
 
 
 
          Earnings
$1,033
 
$929
 
 
 
 
 
 
Computation of fixed charges:
 
 
 
 
 
 
 
 
 
     Interest incurred
$227
 
$253
 
 
 
 
 
 
     Interest capitalized
9
 
2
 
 
 
 
 
 
     Amortization of debt related costs
16
 
17
 
 
 
 
 
 
     Portion of rental expense representative of interest (1)
18
 
18
 
 
 
 
 
 
          Total fixed charges
$270
 
$290
 
 
 
 
 
 
          Ratio of earnings to fixed charges
3.8
 
3.2
 

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