Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - Archer-Daniels-Midland Co | adm-2015930x10q.htm |
| EX-32.2 - EXHIBIT 32.2 - Archer-Daniels-Midland Co | adm-ex322_2015930xq3.htm |
| EX-32.1 - EXHIBIT 32.1 - Archer-Daniels-Midland Co | adm-ex321_2015930xq3.htm |
| EX-31.1 - EXHIBIT 31.1 - Archer-Daniels-Midland Co | adm-ex311_2015930xq3.htm |
| EX-31.2 - EXHIBIT 31.2 - Archer-Daniels-Midland Co | adm-ex312_2015930xq3.htm |
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 | Year Ended | Ended | |||||||||||||||||||||||
30-Jun | 31-Dec | 31-Dec | 31-Dec | 30-Sep | |||||||||||||||||||||||
2010 | 2011 | 2012 | 2012 | 2013 | 2014 | 2015 | |||||||||||||||||||||
Earnings | |||||||||||||||||||||||||||
Earnings Before Income Taxes | $ | 2,585,099 | $ | 3,015,311 | $ | 1,764,898 | $ | 997,275 | $ | 2,023,341 | $ | 3,129,966 | $ | 1,582,521 | |||||||||||||
Less: Equity in Earnings of | |||||||||||||||||||||||||||
Unconsolidated Affiliates, Net of | |||||||||||||||||||||||||||
Dividends | (326,232) | (396,755) | (243,121) | (200,833) | (285,263) | (214,979) | (63,764) | ||||||||||||||||||||
Less: Capitalized Interest | |||||||||||||||||||||||||||
Included in Interest Expense Below | (75,060) | (7,211) | (20,869) | (11,548) | (16,434) | (17,863) | (8,413) | ||||||||||||||||||||
Less: Noncontrolling Interest | 10,996 | 17,573 | (18,387) | (2,184) | (11,868) | (4,553) | 1,827 | ||||||||||||||||||||
Total Earnings | 2,194,803 | 2,628,918 | 1,482,521 | 782,710 | 1,709,776 | 2,892,571 | 1,512,171 | ||||||||||||||||||||
Fixed Charges | |||||||||||||||||||||||||||
Interest Expenses: | |||||||||||||||||||||||||||
Consolidated Interest Expense | 421,461 | 482,298 | 441,765 | 212,527 | 412,810 | 336,633 | 235,364 | ||||||||||||||||||||
Capitalized Interest | 75,060 | 7,211 | 20,869 | 11,548 | 16,434 | 17,863 | 8,413 | ||||||||||||||||||||
Total Interest Expense | 496,521 | 489,509 | 462,634 | 224,075 | 429,244 | 354,496 | 243,777 | ||||||||||||||||||||
Amortization of Debt Discount(1) | 3,805 | 4,282 | |||||||||||||||||||||||||
One Third of Rental Expenses | 80,682 | 83,764 | 69,648 | 35,295 | 66,311 | 64,681 | 55,635 | ||||||||||||||||||||
Total Fixed Charges | 581,008 | 577,555 | 532,282 | 259,370 | 495,555 | 419,177 | 299,412 | ||||||||||||||||||||
Earnings Available for Fixed Charges | $ | 2,775,811 | $ | 3,206,473 | $ | 2,014,803 | $ | 1,042,080 | $ | 2,205,331 | $ | 3,311,748 | $ | 1,811,583 | |||||||||||||
Ratio of Earnings to Fixed Charges | 4.78 | 5.55 | 3.79 | 4.02 | 4.45 | 7.90 | 6.05 | ||||||||||||||||||||
(1) Effective fiscal 2012, the Company reclassified amortization of debt discount to interest expense.