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EXHIBIT 12.1
U.S. CAN CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
HISTORICAL
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YEAR ENDED DECEMBER 31, NINE MONTHS ENDED
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OCTOBER 1, SEPTEMBER 29,
1991 1992 1993 1994 1995 1995 1996
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Income before income
taxes, minority
interest, extraordinary
item and cumulative
effect of accounting
change................ $ 2,861 $ 6,303 $20,307 $31,963 $ 7,547 $ 13,741 $24,340
ADD FIXED CHARGES:
Interest expense on
borrowings......... 17,250 21,940 19,576 21,829 24,513 18,388 19,513
Amortization of
deferred financing
costs.............. 960 962 1,052 1,307 1,543 1,135 1,132
Consolidation
expense............ 1,433 887 622 463 327 245 --
Interest portion of
rent expense....... 885 911 1,373 1,985 2,427 1,800 1,945
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TOTAL FIXED
CHARGES.......... 20,528 24,700 22,623 25,584 28,810 21,568 22,590
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ADJUSTED EARNINGS....... $23,389 $31,003 $42,930 $57,547 $36,357 $ 35,309 $46,930
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RATIO OF EARNINGS TO
FIXED CHARGES......... 1.14x 1.26x 1.90x 2.25x 1.26x 1.64x 2.08x
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PRO FORMA
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YEAR ENDED NINE MONTHS ENDED
DECEMBER 31, 1995 SEPTEMBER 29, 1996
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Income before income taxes and extraordinary item...... $ 6,856 $ 23,161
ADD FIXED CHARGES:
Interest expense on borrowings....................... 33,818 26,363
Amortization of deferred financing costs............. 1,761 1,294
Consolidation expense................................ 327 --
Interest portion of rent expense..................... 3,061 2,368
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TOTAL FIXED CHARGES............................... 38,967 30,025
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ADJUSTED EARNINGS...................................... $45,823 $ 53,186
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RATIO OF EARNINGS TO FIXED CHARGES..................... 1.18x 1.77x
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