Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - MONSANTO CO /NEW/ | Financial_Report.xls |
| EX-32 - EX-32 - MONSANTO CO /NEW/ | mon-ex32_20141130xq1.htm |
| EX-31.1 - EX-31.1 - MONSANTO CO /NEW/ | mon-ex311_20141130xq1.htm |
| EX-31.2 - EX-31.2 - MONSANTO CO /NEW/ | mon-ex312_20141130xq1.htm |
| 10-Q - 10-Q - MONSANTO CO /NEW/ | mon-20141130x10q.htm |
Exhibit 12
MONSANTO COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES(1)(2)
(Dollars in millions)
Three Months Ended Nov. 30, | Year Ended Aug. 31, | |||||||||||||||||||||||
2014 | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
EARNINGS: | ||||||||||||||||||||||||
Income from Continuing Operations Before Income Taxes | 327 | $ | 3,827 | $ | 3,429 | $ | 2,988 | $ | 2,374 | $ | 1,490 | |||||||||||||
Add: | ||||||||||||||||||||||||
Fixed charges | 136 | 327 | 246 | 257 | 234 | 227 | ||||||||||||||||||
Equity affiliate income — net | 3 | 8 | (15 | ) | (10 | ) | (21 | ) | (16 | ) | ||||||||||||||
Amortization of capitalized interest | 4 | 17 | 16 | 15 | 15 | 14 | ||||||||||||||||||
Less: | ||||||||||||||||||||||||
Capitalized interest | (8 | ) | (28 | ) | (23 | ) | (21 | ) | (22 | ) | (25 | ) | ||||||||||||
Earnings available for fixed charges | $ | 462 | $ | 4,151 | $ | 3,653 | $ | 3,229 | $ | 2,580 | $ | 1,690 | ||||||||||||
FIXED CHARGES: | ||||||||||||||||||||||||
Interest expense(3) | $ | 116 | $ | 250 | $ | 176 | $ | 191 | $ | 172 | $ | 167 | ||||||||||||
Capitalized interest | 8 | 28 | 23 | 21 | 22 | 25 | ||||||||||||||||||
Portion of rents representative of interest factor | 12 | 49 | 47 | 45 | 40 | 35 | ||||||||||||||||||
Total fixed charges | $ | 136 | $ | 327 | $ | 246 | $ | 257 | $ | 234 | $ | 227 | ||||||||||||
Ratio of Earnings to Fixed Charges | 3.40 | 12.69 | 14.85 | 12.56 | 11.03 | 7.44 | ||||||||||||||||||
(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. |