Archer-Daniels-Midland Co - FORM 10-K - EX-12 - EXHIBIT 12 - February 16, 2018

Attached files

file filename
10-K - 10-K - Archer-Daniels-Midland Coadm-20171231x10k.htm
EX-23 - EXHIBIT 23 - Archer-Daniels-Midland Coadm-ex23_20171231x10k.htm
EX-31.2 - EXHIBIT 31.2 - Archer-Daniels-Midland Coadm-ex312_20171231x10k.htm
EX-32.1 - EXHIBIT 32.1 - Archer-Daniels-Midland Coadm-ex321_20171231x10k.htm
EX-21 - EXHIBIT 21 - Archer-Daniels-Midland Coadm-ex21_20171231x10k.htm
EX-31.1 - EXHIBIT 31.1 - Archer-Daniels-Midland Coadm-ex311_20171231x10k.htm
EX-24 - EXHIBIT 24 - Archer-Daniels-Midland Coadm_ex24x20171231-10k.htm
EX-32.2 - EXHIBIT 32.2 - Archer-Daniels-Midland Coadm-ex322_20171231x10k.htm
Exhibit 12

Calculation of Ratio of Earnings to Fixed Charges
Archer Daniels Midland Company
Expressed in Thousands


 
Years Ended December 31
 
2013
2014
2015
2016
2017
Earnings
 
 
 
 
 
Earnings Before Income Taxes
$
2,023,341

$
3,129,966

$
2,284,045

$
1,822,158

$
1,608,441

   Less: Equity in Earnings of
 
 
 
 
 
      Unconsolidated Affiliates, Net of
 
 
 
 
 
      Dividends
(285,263)

(214,979)

(49,693)

(60,870)

(207,399)

   Less: Capitalized Interest
 
 
 
 
 
      Included in Interest Expense Below
(16,434)

(17,863)

(10,761)

(19,602)

(17,139)

   Less: Noncontrolling Interest
(11,868)

(4,553)

3,089

(9,112)

(6,799)

Total Earnings
1,709,776

2,892,571

2,226,680

1,732,574

1,377,104

Fixed Charges
 
 
 
 
 
   Interest Expenses:
 
 
 
 
 
      Consolidated Interest Expense
412,810

336,633

307,941

292,547

330,135

      Capitalized Interest
16,434

17,863

10,761

19,602

17,139

   Total Interest Expense
429,244

354,496

318,702

312,149

347,274

   One Third of Rental Expenses
66,311

64,681

77,202

81,713

83,086

Total Fixed Charges
495,555

419,177

395,904

393,862

430,360

Earnings Available for Fixed Charges
$
2,205,331

$
3,311,748

$
2,622,584

$
2,126,436

$
1,807,464

Ratio of Earnings to Fixed Charges
4.45

7.90

6.62

5.40

4.20






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