Attached files
file | filename |
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EX-10.2 - EXHIBIT 10.2 - Archer-Daniels-Midland Co | adm-ex102_2016930xq3.htm |
EX-32.2 - EXHIBIT 32.2 - Archer-Daniels-Midland Co | adm-ex322_2016930xq3.htm |
EX-32.1 - EXHIBIT 32.1 - Archer-Daniels-Midland Co | adm-ex321_2016930xq3.htm |
EX-31.2 - EXHIBIT 31.2 - Archer-Daniels-Midland Co | adm-ex312_2016930xq3.htm |
EX-31.1 - EXHIBIT 31.1 - Archer-Daniels-Midland Co | adm-ex311_2016930xq3.htm |
EX-10.4 - EXHIBIT 10.4 - Archer-Daniels-Midland Co | adm-ex104_2016930xq3.htm |
EX-10.3 - EXHIBIT 10.3 - Archer-Daniels-Midland Co | adm-ex103_2016930xq3.htm |
EX-10.1 - EXHIBIT 10.1 - Archer-Daniels-Midland Co | adm-ex101_2016930xq3.htm |
10-Q - 10-Q - Archer-Daniels-Midland Co | adm-2016930x10q.htm |
Exhibit 12
Calculation of Ratio of Earnings to Fixed Charges
Archer Daniels Midland Company
Expressed in Thousands
Six Months | Nine Months | ||||||||||||||||||||||||||
Fiscal Years Ended | Ended | Year Ended | Year Ended | Year Ended | Ended | ||||||||||||||||||||||
30-Jun | 31-Dec | 31-Dec | 31-Dec | 31-Dec | 30-Sep | ||||||||||||||||||||||
2011 | 2012 | 2012 | 2013 | 2014 | 2015 | 2016 | |||||||||||||||||||||
Earnings | |||||||||||||||||||||||||||
Earnings Before Income Taxes | $ | 3,015,311 | $ | 1,764,898 | $ | 997,275 | $ | 2,023,341 | $ | 3,129,966 | $ | 2,284,045 | $ | 1,192,770 | |||||||||||||
Less: Equity in Earnings of | |||||||||||||||||||||||||||
Unconsolidated Affiliates, Net of | |||||||||||||||||||||||||||
Dividends | (396,755) | (243,121) | (200,833) | (285,263) | (214,979) | (49,693) | 28,192 | ||||||||||||||||||||
Less: Capitalized Interest | |||||||||||||||||||||||||||
Included in Interest Expense Below | (7,211) | (20,869) | (11,548) | (16,434) | (17,863) | (10,761) | (13,088) | ||||||||||||||||||||
Less: Noncontrolling Interest | 17,573 | (18,387) | (2,184) | (11,868) | (4,553) | 3,089 | 7,019 | ||||||||||||||||||||
Total Earnings | 2,628,918 | 1,482,521 | 782,710 | 1,709,776 | 2,892,571 | 2,226,680 | 1,214,893 | ||||||||||||||||||||
Fixed Charges | |||||||||||||||||||||||||||
Interest Expenses: | |||||||||||||||||||||||||||
Consolidated Interest Expense | 482,298 | 441,765 | 212,527 | 412,810 | 336,633 | 307,941 | 213,133 | ||||||||||||||||||||
Capitalized Interest | 7,211 | 20,869 | 11,548 | 16,434 | 17,863 | 10,761 | 13,088 | ||||||||||||||||||||
Total Interest Expense | 489,509 | 462,634 | 224,075 | 429,244 | 354,496 | 318,702 | 226,221 | ||||||||||||||||||||
Amortization of Debt Discount(1) | 4,282 | 0 | |||||||||||||||||||||||||
One Third of Rental Expenses | 83,764 | 69,648 | 35,295 | 66,311 | 64,681 | 77,202 | 61,812 | ||||||||||||||||||||
Total Fixed Charges | 577,555 | 532,282 | 259,370 | 495,555 | 419,177 | 395,904 | 288,033 | ||||||||||||||||||||
Earnings Available for Fixed Charges | $ | 3,206,473 | $ | 2,014,803 | $ | 1,042,080 | $ | 2,205,331 | $ | 3,311,748 | $ | 2,622,584 | $ | 1,502,926 | |||||||||||||
Ratio of Earnings to Fixed Charges | 5.55 | 3.79 | 4.02 | 4.45 | 7.90 | 6.62 | 5.22 |
(1) Effective fiscal 2012, the Company reclassified amortization of debt discount to interest expense.