Monsanto 10K 2008 Annual report | SEC Filing

Content analysis

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Legalese
Litigous
Readability	7th grade Avg

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	Year Ended Aug. 31,
	2008			2007			2006			2005			2004
EARNINGS:
Income (Loss) from Continuing Operations Before Income Taxes, MI and Cumulative Effect of Accounting Change	$	2,926		$	1,328		$	1,018		$	283		$	330

Add:
Fixed charges		162			174			160			137			113
Dividends from affiliated companies		—			—			—			—			—
Equity affiliate (income) expense — net		(2	)		34			31			31			36
Amortization of capitalized interest		16			15			15			15			14
Less:
Capitalized interest		(22	)		(14	)		(9	)		(6	)		(7	)

Earnings available for fixed charges	$	3,080		$	1,537		$	1,215		$	460		$	486


FIXED CHARGES:
Interest expense⁽³⁾	$	110		$	136		$	133		$	116		$	92
Capitalized interest		22			14			9			6			7
Portion of rents representative of interest factor		30			24			18			15			14

Total Fixed Charges	$	162		$	174		$	160		$	137		$	113


Ratio of Earnings to Fixed Charges		19.01			8.83			7.59			3.36			4.30


⁽¹⁾		Monsanto has not paid any preference security dividends and, therefore, has not included the ratio of combined fixed charges and preference security dividends to earnings for the relevant periods.

⁽²⁾		The operating results of the Dairy business has been conformed to discontinued operations presentation for all relevant fiscal years presented.

⁽³⁾		Includes amortization of deferred debt issuance costs and the interest component of the income tax provision.

Monsanto Inactive 10-K2008 FY Annual report

Content analysis