Attached files
file | filename |
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EXCEL - IDEA: XBRL DOCUMENT - MONSANTO CO /NEW/ | Financial_Report.xls |
10-Q - FORM 10-Q - MONSANTO CO /NEW/ | c58885e10vq.htm |
EX-32 - EX-32 - MONSANTO CO /NEW/ | c58885exv32.htm |
EX-31.2 - EX-31.2 - MONSANTO CO /NEW/ | c58885exv31w2.htm |
EX-31.1 - EX-31.1 - MONSANTO CO /NEW/ | c58885exv31w1.htm |
Exhibit 12
MONSANTO COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES(1)(2)
(Dollars in millions)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES(1)(2)
(Dollars in millions)
Nine Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
May 31, | Year Ended Aug. 31, | |||||||||||||||||||||||
2010 | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||||||
EARNINGS: |
||||||||||||||||||||||||
Income from Continuing Operations Before Income Taxes |
$ | 1,730 | $ | 2,967 | $ | 2,926 | $ | 1,328 | $ | 1,018 | $ | 283 | ||||||||||||
Add: |
||||||||||||||||||||||||
Fixed charges |
169 | 178 | 162 | 174 | 160 | 137 | ||||||||||||||||||
Dividends from affiliated companies |
| | | | | | ||||||||||||||||||
Equity affiliate (income) expense net |
(21 | ) | (24 | ) | (2 | ) | 34 | 31 | 31 | |||||||||||||||
Amortization of capitalized interest |
10 | 13 | 16 | 15 | 15 | 15 | ||||||||||||||||||
Less: |
||||||||||||||||||||||||
Capitalized interest |
(18 | ) | (34 | ) | (22 | ) | (14 | ) | (9 | ) | (6 | ) | ||||||||||||
Earnings available for fixed charges |
$ | 1,870 | $ | 3,100 | $ | 3,080 | $ | 1,537 | $ | 1,215 | $ | 460 | ||||||||||||
FIXED CHARGES: |
||||||||||||||||||||||||
Interest expense(3) |
$ | 123 | $ | 107 | $ | 110 | $ | 136 | $ | 133 | $ | 116 | ||||||||||||
Capitalized interest |
18 | 34 | 22 | 14 | 9 | 6 | ||||||||||||||||||
Portion of rents representative of interest factor |
28 | 37 | 30 | 24 | 18 | 15 | ||||||||||||||||||
Total Fixed Charges |
$ | 169 | $ | 178 | $ | 162 | $ | 174 | $ | 160 | $ | 137 | ||||||||||||
Ratio of Earnings to Fixed Charges |
11.07 | 17.42 | 19.01 | 8.83 | 7.59 | 3.36 | ||||||||||||||||||
(1) | Monsanto has not paid any preference security dividends and, therefore, has not included the ratio of combined fixed charges and preference security dividends to earnings for the relevant periods. | |
(2) | The operating results of the Dairy business has been conformed to discontinued operations presentation for all relevant fiscal years presented. | |
(3) | Includes amortization of deferred debt issuance costs and the interest component of the income tax provision. |