Archer-Daniels-Midland (ADM) 10-Q 2013 Q1 Quarterly report

Exhibit 12

Calculation of Ratio of Earnings to Fixed Charges

Archer Daniels Midland Company

Expressed in Thousands

																Six months			Quarter
	Fiscal Years Ended															ended			ended
	30-Jun															31-Dec			31-Mar
	2008			2009			2010			2011			2012			2012			2013
Earnings
Earnings Before Income Taxes	$	2,594,399		$	2,499,557		$	2,585,099		$	3,015,311		$	1,764,898		$	997,275		$	374,879
Less:  Equity in Earnings of
Unconsolidated Affiliates, Net of
Dividends		(284,316	)		55,367			(326,232	)		(396,755	)		(243,121	)		(200,833	)		(78,585	)
Less:  Capitalized Interest
Included in Interest Below		(52,110	)		(94,532	)		(75,060	)		(7,211	)		(20,869	)		(11,548	)		(6,624	)
Less:  Noncontrolling Interest		(6,103	)		(3,751	)		10,996			17,573			(18,387	)		(2,184	)		(1,006	)
Total Earnings		2,251,870			2,456,641			2,194,803			2,628,918			1,482,521			782,710			288,664
Fixed Charges
Interest Expenses:
Consolidated Interest Expense		512,922			469,059			421,461			482,298			441,765			212,290			105,790
Capitalized Interest		52,110			94,532			75,060			7,211			20,869			11,548			6,624
Total Interest Expense		565,032			563,591			496,521			489,509			462,634			223,838			112,414
Amortization of Debt Discount(1)		3,250			3,832			3,805			4,282
One Third of Rental Expenses		67,106			72,289			80,682			83,764			69,648			35,295			9,063
Total Fixed Charges		635,388			639,712			581,008			577,555			532,282			259,133			121,477
Earnings Available for Fixed Charges	$	2,887,258		$	3,096,353		$	2,775,811		$	3,206,473		$	2,014,803		$	1,041,843		$	410,141
Ratio of Earnings to Fixed Charges		4.54			4.84			4.78			5.55			3.79			4.02			3.38

(1) Effective fiscal 2012, the Company reclassified amortization of debt discount to interest expense.