Attached files
| file | filename |
|---|---|
| EX-31.2 - EXHIBIT 31.2 - Archer-Daniels-Midland Co | adm-ex312_2016331xq1.htm |
| EX-31.1 - EXHIBIT 31.1 - Archer-Daniels-Midland Co | adm-ex311_2016331xq1.htm |
| EX-32.2 - EXHIBIT 32.2 - Archer-Daniels-Midland Co | adm-ex322_2016331xq1.htm |
| EX-32.1 - EXHIBIT 32.1 - Archer-Daniels-Midland Co | adm-ex321_2016331xq1.htm |
| 10-Q - 10-Q - Archer-Daniels-Midland Co | adm-2016331x10q.htm |
Exhibit 12
Calculation of Ratio of Earnings to Fixed Charges
Archer Daniels Midland Company
Expressed in Thousands
Six Months | Three Months | ||||||||||||||||||||||||||
Fiscal Years Ended | Ended | Year Ended | Year Ended | Year Ended | Ended | ||||||||||||||||||||||
30-Jun | 31-Dec | 31-Dec | 31-Dec | 31-Dec | 31-Mar | ||||||||||||||||||||||
2011 | 2012 | 2012 | 2013 | 2014 | 2015 | 2016 | |||||||||||||||||||||
Earnings | |||||||||||||||||||||||||||
Earnings Before Income Taxes | $ | 3,015,311 | $ | 1,764,898 | $ | 997,275 | $ | 2,023,341 | $ | 3,129,966 | $ | 2,284,045 | $ | 306,278 | |||||||||||||
Less: Equity in Earnings of | |||||||||||||||||||||||||||
Unconsolidated Affiliates, Net of | |||||||||||||||||||||||||||
Dividends | (396,755) | (243,121) | (200,833) | (285,263) | (214,979) | (49,693) | (44,544) | ||||||||||||||||||||
Less: Capitalized Interest | |||||||||||||||||||||||||||
Included in Interest Expense Below | (7,211) | (20,869) | (11,548) | (16,434) | (17,863) | (10,761) | (4,998) | ||||||||||||||||||||
Less: Noncontrolling Interest | 17,573 | (18,387) | (2,184) | (11,868) | (4,553) | 3,089 | (785) | ||||||||||||||||||||
Total Earnings | 2,628,918 | 1,482,521 | 782,710 | 1,709,776 | 2,892,571 | 2,226,680 | 255,951 | ||||||||||||||||||||
Fixed Charges | |||||||||||||||||||||||||||
Interest Expenses: | |||||||||||||||||||||||||||
Consolidated Interest Expense | 482,298 | 441,765 | 212,527 | 412,810 | 336,633 | 307,941 | 69,889 | ||||||||||||||||||||
Capitalized Interest | 7,211 | 20,869 | 11,548 | 16,434 | 17,863 | 10,761 | 4,998 | ||||||||||||||||||||
Total Interest Expense | 489,509 | 462,634 | 224,075 | 429,244 | 354,496 | 318,702 | 74,887 | ||||||||||||||||||||
Amortization of Debt Discount(1) | 4,282 | 0 | |||||||||||||||||||||||||
One Third of Rental Expenses | 83,764 | 69,648 | 35,295 | 66,311 | 64,681 | 77,202 | 20,714 | ||||||||||||||||||||
Total Fixed Charges | 577,555 | 532,282 | 259,370 | 495,555 | 419,177 | 395,904 | 95,601 | ||||||||||||||||||||
Earnings Available for Fixed Charges | $ | 3,206,473 | $ | 2,014,803 | $ | 1,042,080 | $ | 2,205,331 | $ | 3,311,748 | $ | 2,622,584 | $ | 351,552 | |||||||||||||
Ratio of Earnings to Fixed Charges | 5.55 | 3.79 | 4.02 | 4.45 | 7.90 | 6.62 | 3.68 | ||||||||||||||||||||
(1) Effective fiscal 2012, the Company reclassified amortization of debt discount to interest expense.