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Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. freshman Avg
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Exhibit 12
Ball Corporation and Subsidiaries
Ratio of Earnings to Fixed Charges
($ in millions) |
| 2011 |
| 2010 |
| 2009 |
| 2008 |
| 2007 |
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Earnings before taxes |
| $ | 659.8 |
| $ | 606.4 |
| $ | 536.6 |
| $ | 442.9 |
| $ | 334.1 |
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Plus: |
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Interest expensed and capitalized (a) |
| 185.1 |
| 161.1 |
| 120.8 |
| 144.9 |
| 155.2 |
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Interest expense within rent |
| 22.1 |
| 20.4 |
| 20.9 |
| 23.3 |
| 23.7 |
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Amortization of capitalized interest |
| 4.1 |
| 3.8 |
| 3.7 |
| 4.0 |
| 2.5 |
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Distributed income of equity investees |
| 1.7 |
| 2.2 |
| — |
| 14.2 |
| 12.9 |
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Less: |
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Interest capitalized |
| (8.0 | ) | (2.9 | ) | (3.6 | ) | (7.2 | ) | (5.8 | ) | |||||
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Adjusted earnings |
| $ | 864.8 |
| $ | 791.0 |
| $ | 678.4 |
| $ | 622.1 |
| $ | 522.6 |
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Fixed charges (b) |
| 207.2 |
| 181.5 |
| 141.7 |
| 168.2 |
| 178.9 |
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Ratio of earnings to fixed charges |
| 4.2x |
| 4.4x |
| 4.8x |
| 3.7x |
| 2.9x |
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(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.