Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - Archer-Daniels-Midland Co | adm-ex322_2018331xq1.htm |
| EX-32.1 - EXHIBIT 32.1 - Archer-Daniels-Midland Co | adm-ex321_2018331xq1.htm |
| EX-31.2 - EXHIBIT 31.2 - Archer-Daniels-Midland Co | adm-ex312_2018331xq1.htm |
| EX-31.1 - EXHIBIT 31.1 - Archer-Daniels-Midland Co | adm-ex311_2018331xq1.htm |
| 10-Q - 10-Q - Archer-Daniels-Midland Co | adm-2018331x10q.htm |
Exhibit 12
Calculation of Ratio of Earnings to Fixed Charges
Archer Daniels Midland Company
Expressed in Thousands
Three Months | |||||||||||||||||||||||
Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | Ended | ||||||||||||||||||
31-Dec | 31-Dec | 31-Dec | 31-Dec | 31-Dec | 31-Mar | ||||||||||||||||||
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | ||||||||||||||||||
Earnings | |||||||||||||||||||||||
Earnings Before Income Taxes | $ | 2,023,341 | $ | 3,129,966 | $ | 2,284,045 | $ | 1,822,158 | $ | 1,608,441 | $ | 464,067 | |||||||||||
Less: Equity in Earnings of | |||||||||||||||||||||||
Unconsolidated Affiliates, Net of | |||||||||||||||||||||||
Dividends | (285,263) | (214,979) | (49,693) | (60,870) | (207,399) | (21,686) | |||||||||||||||||
Less: Capitalized Interest | |||||||||||||||||||||||
Included in Interest Expense Below | (16,434) | (17,863) | (10,761) | (19,602) | (17,139) | (4,931) | |||||||||||||||||
Less: Noncontrolling Interest | (11,868) | (4,553) | 3,089 | (9,112) | (6,799) | (2,826) | |||||||||||||||||
Total Earnings | 1,709,776 | 2,892,571 | 2,226,680 | 1,732,574 | 1,377,104 | 434,624 | |||||||||||||||||
Fixed Charges | |||||||||||||||||||||||
Interest Expenses: | |||||||||||||||||||||||
Consolidated Interest Expense | 412,810 | 336,633 | 307,941 | 292,547 | 330,135 | 90,435 | |||||||||||||||||
Capitalized Interest | 16,434 | 17,863 | 10,761 | 19,602 | 17,139 | 4,931 | |||||||||||||||||
Total Interest Expense | 429,244 | 354,496 | 318,702 | 312,149 | 347,274 | 95,366 | |||||||||||||||||
One Third of Rental Expenses | 66,311 | 64,681 | 77,202 | 81,713 | 83,086 | 21,438 | |||||||||||||||||
Total Fixed Charges | 495,555 | 419,177 | 395,904 | 393,862 | 430,360 | 116,804 | |||||||||||||||||
Earnings Available for Fixed Charges | $ | 2,205,331 | $ | 3,311,748 | $ | 2,622,584 | $ | 2,126,436 | $ | 1,807,464 | $ | 551,428 | |||||||||||
Ratio of Earnings to Fixed Charges | 4.45 | 7.90 | 6.62 | 5.40 | 4.20 | 4.72 | |||||||||||||||||