Exhibit 12.1
Ball Corporation and Subsidiaries
Ratio of Earnings to Fixed Charges
($ in millions) |
| 2017 |
| 2016 |
| 2015 |
| 2014 |
| 2013 |
| |||||
Earnings before taxes |
| $ | 514 |
| $ | 124 |
| $ | 346 |
| $ | 645 |
| $ | 583 |
|
Plus: |
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|
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Interest expensed and capitalized (a) |
| 297 |
| 349 |
| 272 |
| 198 |
| 216 |
| |||||
Interest expense within rent |
| 24 |
| 18 |
| 21 |
| 26 |
| 24 |
| |||||
Amortization of capitalized interest |
| 3 |
| 3 |
| 4 |
| 3 |
| 5 |
| |||||
Distributed income of equity investees |
| 4 |
| 2 |
| 2 |
| 1 |
| 2 |
| |||||
Less: |
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|
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|
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|
|
|
|
|
| |||||
Interest capitalized |
| (9 | ) | (11 | ) | (13 | ) | (5 | ) | (4 | ) | |||||
Adjusted earnings |
| $ | 833 |
| $ | 485 |
| $ | 632 |
| $ | 868 |
| $ | 826 |
|
Fixed charges (b) |
| 322 |
| 367 |
| 293 |
| 224 |
| 239 |
| |||||
Ratio of earnings to fixed charges |
| 2.6x |
| 1.3x |
| 2.2x |
| 3.9x |
| 3.4x |
| |||||
(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.