Attached files
| file | filename |
|---|---|
| EX-31.1 - EXHIBIT 31.1 - Archer-Daniels-Midland Co | adm-ex311_2014930xq3.htm |
| 10-Q - 10-Q - Archer-Daniels-Midland Co | adm-2014930x10q.htm |
| EX-31.2 - EXHIBIT 31.2 - Archer-Daniels-Midland Co | adm-ex312_2014930xq3.htm |
| EX-32.1 - EXHIBIT 32.1 - Archer-Daniels-Midland Co | adm-ex321_2014930xq3.htm |
| EX-32.2 - EXHIBIT 32.2 - Archer-Daniels-Midland Co | adm-ex322_2014930xq3.htm |
| 10-Q - PDF - Archer-Daniels-Midland Co | adm201493010q.pdf |
| EXCEL - IDEA: XBRL DOCUMENT - Archer-Daniels-Midland Co | Financial_Report.xls |
Exhibit 12
Calculation of Ratio of Earnings to Fixed Charges
Archer Daniels Midland Company
Expressed in Thousands
Six Months | Nine Months | ||||||||||||||||||||||||||
Fiscal Years Ended | Ended | Year Ended | Ended | ||||||||||||||||||||||||
30-Jun | 31-Dec | 31-Dec | 31-Sept | ||||||||||||||||||||||||
2009 | 2010 | 2011 | 2012 | 2012 | 2013 | 2014 | |||||||||||||||||||||
Earnings | |||||||||||||||||||||||||||
Earnings Before Income Taxes | $ | 2,499,557 | $ | 2,585,099 | $ | 3,015,311 | $ | 1,764,898 | $ | 997,275 | $ | 2,023,341 | $ | 2,133,817 | |||||||||||||
Less: Equity in Earnings of | |||||||||||||||||||||||||||
Unconsolidated Affiliates, Net of | |||||||||||||||||||||||||||
Dividends | 55,367 | (326,232) | (396,755) | (243,121) | (200,833) | (285,263) | (110,226) | ||||||||||||||||||||
Less: Capitalized Interest | |||||||||||||||||||||||||||
Included in Interest Expense Below | (94,532) | (75,060) | (7,211) | (20,869) | (11,548) | (16,434) | (13,634) | ||||||||||||||||||||
Less: Noncontrolling Interest | (3,751) | 10,996 | 17,573 | (18,387) | (2,184) | (11,868) | (1,204) | ||||||||||||||||||||
Total Earnings | 2,456,641 | 2,194,803 | 2,628,918 | 1,482,521 | 782,710 | 1,709,776 | 2,008,753 | ||||||||||||||||||||
Fixed Charges | |||||||||||||||||||||||||||
Interest Expenses: | |||||||||||||||||||||||||||
Consolidated Interest Expense | 469,059 | 421,461 | 482,298 | 441,765 | 212,527 | 412,810 | 251,402 | ||||||||||||||||||||
Capitalized Interest | 94,532 | 75,060 | 7,211 | 20,869 | 11,548 | 16,434 | 13,634 | ||||||||||||||||||||
Total Interest Expense | 563,591 | 496,521 | 489,509 | 462,634 | 224,075 | 429,244 | 265,036 | ||||||||||||||||||||
Amortization of Debt Discount(1) | 3,832 | 3,805 | 4,282 | ||||||||||||||||||||||||
One Third of Rental Expenses | 72,289 | 80,682 | 83,764 | 69,648 | 35,295 | 66,311 | 53,562 | ||||||||||||||||||||
Total Fixed Charges | 639,712 | 581,008 | 577,555 | 532,282 | 259,370 | 495,555 | 318,598 | ||||||||||||||||||||
Earnings Available for Fixed Charges | $ | 3,096,353 | $ | 2,775,811 | $ | 3,206,473 | $ | 2,014,803 | $ | 1,042,080 | $ | 2,205,331 | $ | 2,327,351 | |||||||||||||
Ratio of Earnings to Fixed Charges | 4.84 | 4.78 | 5.55 | 3.79 | 4.02 | 4.45 | 7.30 | ||||||||||||||||||||
(1) Effective fiscal 2012, the Company reclassified amortization of debt discount to interest expense.