Attached files
| file | filename |
|---|---|
| EX-23 - EXHIBIT 23 - Archer-Daniels-Midland Co | adm-ex23_20151231x10k.htm |
| EX-21 - EXHIBIT 21 - Archer-Daniels-Midland Co | adm-ex21_20151231x10k.htm |
| EX-24 - EXHIBIT 24 - Archer-Daniels-Midland Co | adm_ex24x20151231-10k.htm |
| 10-K - 10-K - Archer-Daniels-Midland Co | adm-20151231x10k.htm |
| EX-32.2 - EXHIBIT 32.2 - Archer-Daniels-Midland Co | adm-ex322_20151231x10k.htm |
| EX-3 - EXHIBIT 3 - Archer-Daniels-Midland Co | adm-ex3ii_20151231x10k.htm |
| EX-10 - EXHIBIT 10 - Archer-Daniels-Midland Co | adm-ex10v_20151231x10k.htm |
| EX-31.2 - EXHIBIT 31.2 - Archer-Daniels-Midland Co | adm-ex312_20151231x10k.htm |
| EX-31.1 - EXHIBIT 31.1 - Archer-Daniels-Midland Co | adm-ex311_20151231x10k.htm |
| EX-32.1 - EXHIBIT 32.1 - Archer-Daniels-Midland Co | adm-ex321_20151231x10k.htm |
Exhibit 12
Calculation of Ratio of Earnings to Fixed Charges
Archer Daniels Midland Company
Expressed in Thousands
Year Ended June 30 | Six Months Ended December 31 | Years Ended December 31 | |||||||||||||||||
2011 | 2012 | 2012 | 2013 | 2014 | 2015 | ||||||||||||||
Earnings | |||||||||||||||||||
Earnings Before Income Taxes | $ | 3,015,311 | $1,764,898 | $ | 997,275 | $ | 2,023,341 | $ | 3,129,966 | $ | 2,284,045 | ||||||||
Less: Equity in Earnings of | |||||||||||||||||||
Unconsolidated Affiliates, Net of | |||||||||||||||||||
Dividends | (396,755) | (243,121) | (200,833) | (285,263) | (214,979) | (49,693) | |||||||||||||
Less: Capitalized Interest | |||||||||||||||||||
Included in Interest Expense Below | (7,211) | (20,869) | (11,548) | (16,434) | (17,863) | (10,761) | |||||||||||||
Less: Noncontrolling Interest | 17,573 | (18,387) | (2,184) | (11,868) | (4,553) | 3,089 | |||||||||||||
Total Earnings | 2,628,918 | 1,482,521 | 782,710 | 1,709,776 | 2,892,571 | 2,226,680 | |||||||||||||
Fixed Charges | |||||||||||||||||||
Interest Expenses: | |||||||||||||||||||
Consolidated Interest Expense | 482,298 | 441,765 | 212,527 | 412,810 | 336,633 | 307,941 | |||||||||||||
Capitalized Interest | 7,211 | 20,869 | 11,548 | 16,434 | 17,863 | 10,761 | |||||||||||||
Total Interest Expense | 489,509 | 462,634 | 224,075 | 429,244 | 354,496 | 318,702 | |||||||||||||
Amortization of Debt Discount(1) | 4,282 | ||||||||||||||||||
One Third of Rental Expenses | 83,764 | 69,648 | 35,295 | 66,311 | 64,681 | 77,202 | |||||||||||||
Total Fixed Charges | 577,555 | 532,282 | 259,370 | 495,555 | 419,177 | 395,904 | |||||||||||||
Earnings Available for Fixed Charges | $ | 3,206,473 | $2,014,803 | $1,042,080 | $ | 2,205,331 | $ | 3,311,748 | $ | 2,622,584 | |||||||||
Ratio of Earnings to Fixed Charges | 5.55 | 3.79 | 4.02 | 4.45 | 7.90 | 6.62 | |||||||||||||
(1) Effective fiscal 2012, the Company reclassified amortization of debt discount to interest expense.