Attached files
EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
The following table sets forth Silgan Holdings Inc.’s computation of its ratio of earnings to fixed charges for the periods indicated.
| Years Ended December 31, | |||||||||||||||
| 2009(a) | 2008 | 2007 | 2006(a) | 2005(a) | |||||||||||
| (Dollars in thousands) | |||||||||||||||
| Earnings before fixed charges: |
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| Income before income taxes (b) |
$ | 247,599 | $ | 193,574 | $ | 199,825 | $ | 149,480 | $ | 152,966 | |||||
| Interest and other debt expense |
50,999 | 60,160 | 66,003 | 59,397 | 60,616 | ||||||||||
| Interest portion of rental expense |
435 | 1,318 | 2,004 | 1,741 | 1,268 | ||||||||||
| Earnings before fixed charges (b) |
$ | 299,033 | $ | 255,052 | $ | 267,832 | $ | 210,618 | $ | 214,850 | |||||
| Fixed charges: |
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| Interest and other debt expense |
$ | 50,999 | $ | 60,160 | $ | 66,003 | $ | 59,397 | $ | 60,616 | |||||
| Interest portion of rental expense |
435 | 1,318 | 2,004 | 1,741 | 1,268 | ||||||||||
| Capitalized interest |
379 | 1,990 | 2,553 | 1,721 | 1,165 | ||||||||||
| Total fixed charges |
$ | 51,813 | $ | 63,468 | $ | 70,560 | $ | 62,859 | $ | 63,049 | |||||
| Ratio of earnings to fixed charges (b) |
5.77 | 4.02 | 3.80 | 3.35 | 3.41 | ||||||||||
| (a) | Interest and other debt expense in 2009, 2006 and 2005 includes a loss on early extinguishment of debt of $1.3 million, $0.2 million and $11.2 million, respectively. |
| (b) | Amounts have been adjusted for the retrospective application of the change in the method of accounting for inventory for the plastic container business from LIFO to FIFO. |