Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - INTERNATIONAL FLAVORS & FRAGRANCES INC | iff10-q118.htm |
| EX-32 - EXHIBIT 32 - INTERNATIONAL FLAVORS & FRAGRANCES INC | iff33118exhibit32.htm |
| EX-31.1 - EXHIBIT 31.1 - INTERNATIONAL FLAVORS & FRAGRANCES INC | iff33118exhibit311.htm |
| EX-31.2 - EXHIBIT 31.2 - INTERNATIONAL FLAVORS & FRAGRANCES INC | iff33118exhibit312.htm |
Exhibit 12
Computation of Ratios of Earnings to Fixed Charges
Ratio of Earnings to Fixed Charges | |||||||||||||||||||||||
(Amounts in thousands except Ratio of Earnings to Fixed Charges) | Three months ended | Fiscal Year | |||||||||||||||||||||
Earnings: | March 31, 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||||
Add: | |||||||||||||||||||||||
Income before taxes | $ | 158,837 | $ | 537,045 | $ | 523,717 | $ | 539,101 | $ | 549,061 | $ | 485,210 | |||||||||||
Fixed charges | 21,066 | 82,133 | 68,838 | 63,158 | 63,098 | 64,194 | |||||||||||||||||
Amortization of capitalized interest | 1,294 | 5,000 | 4,723 | 4,198 | 3,734 | 3,087 | |||||||||||||||||
Less: | |||||||||||||||||||||||
Capitalized interest | (1,322 | ) | (4,176 | ) | (4,035 | ) | (5,893 | ) | (5,572 | ) | (6,629 | ) | |||||||||||
Total Earnings available for fixed charges | $ | 179,875 | $ | 620,002 | $ | 593,243 | $ | 600,564 | $ | 610,321 | $ | 545,862 | |||||||||||
Fixed Charges: | |||||||||||||||||||||||
Interest expense | $ | 16,595 | $ | 65,363 | $ | 52,989 | $ | 46,062 | $ | 46,067 | $ | 46,767 | |||||||||||
Capitalized interest | 1,322 | 4,176 | 4,035 | 5,893 | 5,572 | 6,629 | |||||||||||||||||
Portion of rental expense which represents interest factor1 | 3,149 | 12,594 | 11,814 | 11,203 | 11,459 | 10,798 | |||||||||||||||||
Total Fixed charges | $ | 21,066 | $ | 82,133 | $ | 68,838 | $ | 63,158 | $ | 63,098 | $ | 64,194 | |||||||||||
Ratio of Earnings to Fixed Charges | 8.54 | 7.55 | 8.62 | 9.51 | 9.67 | 8.50 | |||||||||||||||||
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(1) Represents one-third of rental expense, which we deem to be a reasonable estimate of the portion of our rental expense that is attributable to interest.