Attached files
| file | filename |
|---|---|
| EX-32 - EXHIBIT 32 - MONSANTO CO /NEW/ | mon-ex32_20180228xq2.htm |
| EX-31.2 - EXHIBIT 31.2 - MONSANTO CO /NEW/ | mon-ex312_20180228xq2.htm |
| EX-31.1 - EXHIBIT 31.1 - MONSANTO CO /NEW/ | mon-ex311_20180228xq2.htm |
| 10-Q - 10-Q - MONSANTO CO /NEW/ | mon-20180228xq2.htm |
Exhibit 12
MONSANTO COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES(1)(2)
(Dollars in millions)
Six Months Ended Feb. 28, | Year Ended Aug. 31, | ||||||||||||||||||||||
2018 | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||||
EARNINGS: | |||||||||||||||||||||||
Income from Continuing Operations Before Income Taxes | $ | 2,069 | $ | 2,886 | $ | 1,991 | $ | 3,161 | $ | 3,827 | $ | 3,429 | |||||||||||
Add: | |||||||||||||||||||||||
Fixed charges | 270 | 546 | 515 | 509 | 327 | 246 | |||||||||||||||||
Equity affiliate loss (income) - net | 7 | 17 | 12 | 13 | 8 | (15 | ) | ||||||||||||||||
Amortization of capitalized interest | 11 | 21 | 20 | 18 | 17 | 16 | |||||||||||||||||
Less: | |||||||||||||||||||||||
Capitalized interest | (32 | ) | (44 | ) | (32 | ) | (26 | ) | (28 | ) | (23 | ) | |||||||||||
Earnings available for fixed charges | $ | 2,325 | $ | 3,426 | $ | 2,506 | $ | 3,675 | $ | 4,151 | $ | 3,653 | |||||||||||
FIXED CHARGES: | |||||||||||||||||||||||
Interest expense(3) | $ | 214 | $ | 455 | $ | 437 | $ | 434 | $ | 250 | $ | 176 | |||||||||||
Capitalized interest | 32 | 44 | 32 | 26 | 28 | 23 | |||||||||||||||||
Portion of rents representative of interest factor | 24 | 47 | 46 | 49 | 49 | 47 | |||||||||||||||||
Total fixed charges | $ | 270 | $ | 546 | $ | 515 | $ | 509 | $ | 327 | $ | 246 | |||||||||||
Ratio of Earnings to Fixed Charges | 8.61 | 6.27 | 4.87 | 7.22 | 12.69 | 14.85 | |||||||||||||||||
(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 have 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. |