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EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
CORN PRODUCTS INTERNATIONAL, INC.
Computation of Ratios of Earnings to Fixed Charges
(in millions, except ratios) |
| 2011 |
| 2010 |
| 2009 |
| 2008 |
| 2007 |
| |||||
Income before income taxes and earnings of non-controlling interests |
| $ | 593.4 |
| $ | 275.5 |
| $ | 115.2 |
| $ | 404.8 |
| $ | 305.4 |
|
Fixed charges |
| 88.5 |
| 72.4 |
| 41.2 |
| 52.5 |
| 55.2 |
| |||||
Capitalized interest |
| (5.2 | ) | (2.6 | ) | (6.6 | ) | (8.0 | ) | (4.1 | ) | |||||
Total |
| $ | 676.7 |
| $ | 345.3 |
| $ | 149.8 |
| $ | 449.3 |
| $ | 356.5 |
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RATIO OF EARNINGS TO FIXED CHARGES |
| 7.65 |
| 4.77 |
| 3.64 |
| 8.56 |
| 6.46 |
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FIXED CHARGES: |
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Interest expense on debt |
| $ | 83.4 |
| $ | 69.4 |
| $ | 38.8 |
| $ | 50.2 |
| $ | 52.5 |
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Amortization of discount on debt |
| 3.0 |
| 1.6 |
| 1.3 |
| .8 |
| 1.1 |
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Interest portion of rental expense on operating leases |
| 2.1 |
| 1.4 |
| 1.1 |
| 1.5 |
| 1.6 |
| |||||
Total |
| $ | 88.5 |
| $ | 72.4 |
| $ | 41.2 |
| $ | 52.5 |
| $ | 55.2 |
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