EX-12 3 ex_12.htm EXHIBIT 12 - RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12 - Ratio of Earnings to Fixed Charges
Exhibit 12


Ball Corporation and Subsidiaries
Ratio of Earnings to Fixed Charges


                       
($ in millions)
  
2005
  
2004
  
2003
  
2002
  
2001
  
                                 
Earnings (loss) before taxes
  
$
346.1
  
$
435.2
  
$
319.7
  
$
230.2
  
$
(113.7
)
Plus:
                                
Interest expensed and capitalized
    
121.7
    
105.8
    
144.2
    
83.2
    
89.7
  
Interest expense within rent
    
25.6
    
24.8
    
22.6
    
17.1
    
21.7
  
Amortization of capitalized interest
    
2.9
    
1.8
    
1.9
    
2.0
    
2.3
  
Distributed income of equity investees
    
11.6
    
8.4
    
4.5
    
-
    
-
  
Less:
                                
Interest capitalized
    
(5.3
)
  
(2.1
)
  
(3.1
)
  
(2.4
)
  
(1.4
)
                                 
Adjusted earnings (loss)
    $
502.6
    $
573.9
  
$
489.8
    $
330.1
    $
(1.4
)
                                 
Fixed charges (a)
    
147.3
    
130.6
    
166.8
    
100.3
    
111.4
  
                                 
Ratio of earnings to fixed charges
    
3.4x
    
4.4x
    
2.9x
    
3.3x
    
0.0x(b
)

 
(a)  
Fixed charges include interest expensed and capitalized as well as interest expense within rent.
 
(b)  
During 2001 there was a deficiency of earnings to fixed charges of $112.8 million.
 
 
 
 
 
 
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