Attached files
| file | filename |
|---|---|
| 8-K - 8-K - BEMIS CO INC | a16-17776_58k.htm |
| EX-1.1 - EX-1.1 - BEMIS CO INC | a16-17776_5ex1d1.htm |
Exhibit 12.1
COMPUTATION OF THE PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES
BEMIS COMPANY, INC.
(in millions of dollars except ratio data)
(unaudited)
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|
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For the Year Ended |
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For the Six Months |
| ||
|
|
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December 31, |
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Ended June 30, |
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|
|
2015 |
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2016 |
| ||
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|
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|
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EARNINGS: |
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|
|
|
| ||
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Pretax income from continuing operations |
|
$ |
356.1 |
|
$ |
155.9 |
|
|
Fixed charges |
|
64.5 |
|
35.6 |
| ||
|
Less: Capitalized interest |
|
(0.4 |
) |
(0.3 |
) | ||
|
Losses (gains) recognized in pre-tax income for less than 50% owned persons |
|
(1.9 |
) |
(0.9 |
) | ||
|
Distributed income of equity investees |
|
1.7 |
|
— |
| ||
|
Capitalized interest amortization |
|
0.7 |
|
0.3 |
| ||
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TOTAL EARNINGS |
|
$ |
420.7 |
|
$ |
190.6 |
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|
|
|
|
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|
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FIXED CHARGES: |
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|
|
|
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Interest expense: |
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|
|
|
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Consolidated interest expense |
|
$ |
59.5 |
|
$ |
33.0 |
|
|
Capitalized interest |
|
0.4 |
|
0.3 |
| ||
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Total interest expense |
|
59.9 |
|
33.3 |
| ||
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Interest inherent in rent expense |
|
4.6 |
|
2.3 |
| ||
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TOTAL FIXED CHARGES |
|
$ |
64.5 |
|
$ |
35.6 |
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|
|
|
|
|
|
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RATIO OF EARNINGS TO FIXED CHARGES |
|
6.5 |
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5.4 |
| ||
Interest inherent in rent expense is an amount representative of the interest factor in rentals (for this purpose, the interest factor is assumed to be one-third of rental expense). Interest associated with uncertain tax liabilities has been excluded from fixed charges as the benefits (generally reflecting statute of limitations lapses) would reduce fixed charges.