COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
The following table sets forth Silgan Holdings Inc.’s computation of its ratio of earnings to fixed charges for the periods indicated.
|
| | | | | | | | | | | | | | | | | | | | |
| | | Years Ended December 31, |
| | | 2015 | | 2014(a) | | 2013(a) | | 2012(a) | | 2011(a) |
| | | (Dollars in thousands) |
| Earnings before fixed charges: | | | | | | | | | | |
| Income before income taxes | | $ | 252,886 |
| | $ | 284,552 |
| | $ | 254,718 |
| | $ | 223,787 |
| | $ | 290,167 |
|
| Interest and other debt expense | | 66,926 |
| | 76,301 |
| | 69,462 |
| | 101,722 |
| | 63,954 |
|
| Interest portion of rental expense | | 738 |
| | 728 |
| | 749 |
| | 647 |
| | 912 |
|
| Earnings before fixed charges | | $ | 320,550 |
| | $ | 361,581 |
| | $ | 324,929 |
| | $ | 326,156 |
| | $ | 355,033 |
|
| Fixed charges: | | | | | | | | | | |
| Interest and other debt expense | | $ | 66,926 |
| | $ | 76,301 |
| | $ | 69,462 |
| | $ | 101,722 |
| | $ | 63,954 |
|
Interest portion of rental expense
| | 738 |
| | 728 |
| | 749 |
| | 647 |
| | 912 |
|
| Capitalized interest | | 986 |
| | 423 |
| | 262 |
| | 266 |
| | 688 |
|
| Total fixed charges | | $ | 68,650 |
| | $ | 77,452 |
| | $ | 70,473 |
| | $ | 102,635 |
| | $ | 65,554 |
|
| Ratio of earnings to fixed charges | | 4.67 |
| | 4.67 |
| | 4.61 |
| | 3.18 |
| | 5.42 |
|
______________________
| |
| (a) | Interest and other debt expense in 2014, 2013, 2012 and 2011 includes a loss on early extinguishment of debt of $1.5 million, $2.1 million, $38.7 million and $1.0 million, respectively. |
