Bemis 8-K Entry into a Material Definitive Agreement

Exhibit 12.1

COMPUTATION OF THE PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES

BEMIS COMPANY, INC.

(in millions of dollars except ratio data)

(unaudited)

	For the Year Ended			For the Six Months
	December 31,			Ended June 30,
	2015			2016
EARNINGS:
Pretax income from continuing operations	$	356.1		$	155.9
Fixed charges	64.5			35.6
Less: Capitalized interest	(0.4		)	(0.3		)
Losses (gains) recognized in pre-tax income for less than 50% owned persons	(1.9		)	(0.9		)
Distributed income of equity investees	1.7			—
Capitalized interest amortization	0.7			0.3
TOTAL EARNINGS	$	420.7		$	190.6
FIXED CHARGES:
Interest expense:
Consolidated interest expense	$	59.5		$	33.0
Capitalized interest	0.4			0.3
Total interest expense	59.9			33.3
Interest inherent in rent expense	4.6			2.3
TOTAL FIXED CHARGES	$	64.5		$	35.6
RATIO OF EARNINGS TO FIXED CHARGES	6.5			5.4

Interest inherent in rent expense is an amount representative of the interest factor in rentals (for this purpose, the interest factor is assumed to be one-third of rental expense).  Interest associated with uncertain tax liabilities has been excluded from fixed charges as the benefits (generally reflecting statute of limitations lapses) would reduce fixed charges.