EXHIBIT 12
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,
--------------------------------------------------------
2002 2001 2000 1999 1998
---- ---- ---- ---- ----
(Dollars in thousands)
Earnings before fixed charges:
Income before income taxes, equity
in losses of affiliates and
extraordinary item....................... $ 94,151 $ 76,127 $ 65,924 $ 38,235 $ 72,808
Interest and other debt expense ............. 73,789 81,192 91,178 86,057 81,456
Interest portion of rental expense........... 747 1,146 1,330 1,132 1,140
-------- -------- -------- -------- --------
Earnings before fixed charges..................... $168,687 $158,465 $158,432 $125,424 $155,404
======== ======== ======== ======== ========
Fixed charges:
Interest and other debt expense.............. $73,789 $81,192 $91,178 $86,057 $81,456
Interest portion of rental expense........... 747 1,146 1,330 1,132 1,140
Capitalized interest ........................ 1,358 1,571 2,367 -- --
------- ------- ------- ------- -------
Total fixed charges ......................... $75,894 $83,909 $94,875 $87,189 $82,596
======= ======= ======= ======= =======
Ratio of earnings to fixed charges................ 2.22 1.89 1.67 1.44 1.88