EX-12 2 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

EXHIBIT 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

The following table sets forth Silgan Holdings Inc.’s computation of its ratio of earnings to fixed charges for the periods indicated.

 

     Years Ended December 31,
     2009(a)    2008    2007    2006(a)    2005(a)
     (Dollars in thousands)

Earnings before fixed charges:

              

Income before income taxes (b)

   $ 247,599    $ 193,574    $ 199,825    $ 149,480    $ 152,966

Interest and other debt expense

     50,999      60,160      66,003      59,397      60,616

Interest portion of rental expense

     435      1,318      2,004      1,741      1,268
                                  

Earnings before fixed charges (b)

   $ 299,033    $ 255,052    $ 267,832    $ 210,618    $ 214,850
                                  

Fixed charges:

              

Interest and other debt expense

   $ 50,999    $ 60,160    $ 66,003    $ 59,397    $ 60,616

Interest portion of rental expense

     435      1,318      2,004      1,741      1,268

Capitalized interest

     379      1,990      2,553      1,721      1,165
                                  

Total fixed charges

   $ 51,813    $ 63,468    $ 70,560    $ 62,859    $ 63,049
                                  

Ratio of earnings to fixed charges (b)

     5.77      4.02      3.80      3.35      3.41

 

(a) Interest and other debt expense in 2009, 2006 and 2005 includes a loss on early extinguishment of debt of $1.3 million, $0.2 million and $11.2 million, respectively.
(b) Amounts have been adjusted for the retrospective application of the change in the method of accounting for inventory for the plastic container business from LIFO to FIFO.