Attached files
| file | filename |
|---|---|
| EX-10.20 - EXHIBIT 10.20 - MONSANTO CO /NEW/ | ex1020-fy17.htm |
| EX-95 - EXHIBIT 95 - MONSANTO CO /NEW/ | ex95-fy17.htm |
| EX-32 - EXHIBIT 32 - MONSANTO CO /NEW/ | d410012dex32-fy17.htm |
| EX-31.2 - EXHIBIT 31.2 - MONSANTO CO /NEW/ | d410012dex312-fy17.htm |
| EX-31.1 - EXHIBIT 31.1 - MONSANTO CO /NEW/ | d410012dex311-fy17.htm |
| EX-23 - EXHIBIT 23 - MONSANTO CO /NEW/ | d410012dex23-fy17.htm |
| EX-21 - EXHIBIT 21 - MONSANTO CO /NEW/ | d410012dex21-fy17.htm |
| EX-10.15.17 - EXHIBIT 10.15.17 - MONSANTO CO /NEW/ | ex101517-fy17.htm |
| EX-10.15.16 - EXHIBIT 10.15.16 - MONSANTO CO /NEW/ | ex101516-fy17.htm |
| 10-K - 10-K - MONSANTO CO /NEW/ | mon-20170831x10k.htm |
Exhibit 12
MONSANTO COMPANY
Ratio of Earnings to Fixed Charges(1)(2) | Year Ended Aug. 31, | |||||||||||||||||||
(Dollars in millions except for ratios) | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||
EARNINGS: | ||||||||||||||||||||
Income from Continuing Operations Before Income Taxes | $ | 2,886 | $ | 1,991 | $ | 3,161 | $ | 3,827 | $ | 3,429 | ||||||||||
Add: | ||||||||||||||||||||
Fixed charges | 546 | 515 | 509 | 327 | 246 | |||||||||||||||
Equity affiliate loss (income) — net | 17 | 12 | 13 | 8 | (15 | ) | ||||||||||||||
Amortization of capitalized interest | 21 | 20 | 18 | 17 | 16 | |||||||||||||||
Less: | ||||||||||||||||||||
Capitalized interest | (44 | ) | (32 | ) | (26 | ) | (28 | ) | (23 | ) | ||||||||||
Earnings available for fixed charges | $ | 3,426 | $ | 2,506 | $ | 3,675 | $ | 4,151 | $ | 3,653 | ||||||||||
FIXED CHARGES: | ||||||||||||||||||||
Interest expense(3) | $ | 455 | $ | 437 | $ | 434 | $ | 250 | $ | 176 | ||||||||||
Capitalized interest | 44 | 32 | 26 | 28 | 23 | |||||||||||||||
Portion of rents representative of interest factor | 47 | 46 | 49 | 49 | 47 | |||||||||||||||
Total Fixed Charges | $ | 546 | $ | 515 | $ | 509 | $ | 327 | $ | 246 | ||||||||||
Ratio of Earnings to Fixed Charges | 6.27 | 4.87 | 7.22 | 12.69 | 14.85 | |||||||||||||||
(1) | Monsanto has not paid any preference security dividends and, therefore, has not included the ratio of combined fixed charges and preference security dividends to earnings for the relevant periods. |
(2) | The operating results of the Dairy business have been conformed to discontinued operations presentation for all relevant fiscal years presented. |
(3) | Includes amortization of deferred debt issuance costs and the interest component of the income tax provision. |
Debt to Capital Ratio(1) | Year Ended Aug. 31, | |||||||||||||||||||
(amounts in millions except for percentages) | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||
Short-Term Debt | $ | 870 | $ | 1,587 | $ | 615 | $ | 233 | $ | 51 | ||||||||||
Long-Term Debt (2) | 7,254 | 7,453 | 8,429 | 7,465 | 2,048 | |||||||||||||||
Total Debt | 8,124 | 9,040 | 9,044 | 7,698 | 2,099 | |||||||||||||||
Total Monsanto Company Shareowners’ Equity | 6,438 | 4,534 | 6,990 | 7,875 | 12,559 | |||||||||||||||
Debt-to-Capital Ratio | 56 | % | 67 | % | 56 | % | 49 | % | 14 | % | ||||||||||
(1) | Debt-to-capital ratio is the sum of short-term and long-term debt, divided by the sum of short-term and long-term debt and shareowners’ equity. |
(2) | Prior period balances have been updated to conform with current period presentation for the adoption of the accounting standard update “Presentation of Debt Issuance Costs” in fiscal year 2015. |
Current Ratio(1) | Year Ended Aug. 31, | |||||||||||||||||||
(amounts in millions except for ratios) | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||
Total Current Assets | $ | 8,651 | $ | 8,157 | $ | 10,625 | $ | 9,675 | $ | 10,077 | ||||||||||
Total Current Liabilities | 6,398 | 6,729 | 5,177 | 5,112 | 4,336 | |||||||||||||||
Current Ratio | 1.35 | 1.21 | 2.05 | 1.89 | 2.32 | |||||||||||||||
(1) | Current ratio represents total current assets divided by total current liabilities. |