EX-12 3 a15-23354_1ex12.htm EX-12

Exhibit 12

 

Ball Corporation and Subsidiaries

Ratio of Earnings to Fixed Charges

 

($ in millions)

 

2015

 

2014

 

2013

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before taxes

 

$

345.5

 

$

645.6

 

$

583.6

 

$

595.6

 

$

659.8

 

Plus:

 

 

 

 

 

 

 

 

 

 

 

Interest expensed and capitalized (a)

 

272.5

 

198.1

 

215.5

 

201.1

 

185.1

 

Interest expense within rent

 

20.6

 

25.6

 

23.8

 

22.8

 

22.1

 

Amortization of capitalized interest

 

3.9

 

3.5

 

4.5

 

4.4

 

4.1

 

Distributed income of equity investees

 

2.0

 

0.6

 

1.6

 

0.8

 

1.7

 

Less:

 

 

 

 

 

 

 

 

 

 

 

Interest capitalized

 

(12.8

)

(5.1

)

(3.7

)

(6.2

)

(8.0

)

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted earnings

 

$

631.7

 

$

868.3

 

$

825.3

 

$

818.5

 

$

864.8

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges (b)

 

293.1

 

223.7

 

239.3

 

223.9

 

207.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

2.2x

 

3.9x

 

3.4x

 

3.7x

 

4.2x

 

 

(a)         Amounts do not include interest for unrecognized tax benefits related to uncertain tax positions.

(b)         Fixed charges include interest expensed and capitalized as well as interest expense within rent.

 

1