EX-12.1 5 a12-29131_1ex12d1.htm EX-12.1

EXHIBIT 12.1

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

INGREDION INCORPORATED

Computation of Ratios of Earnings to Fixed Charges

 

(in millions, except ratios)

 

2012

 

2011

 

2010

 

2009

 

2008

 

Income before income taxes and earnings of non-controlling interests

 

$

600.6

 

$

593.4

 

$

275.5

 

$

115.2

 

$

404.8

 

Fixed charges

 

84.3

 

88.5

 

72.4

 

41.2

 

52.5

 

Capitalized interest

 

(5.6

)

(5.2

)

(2.6

)

(6.6

)

(8.0

)

Total

 

$

679.3

 

$

676.7

 

$

345.3

 

$

149.8

 

$

449.3

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

8.06

 

7.65

 

4.77

 

3.64

 

8.56

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES:

 

 

 

 

 

 

 

 

 

 

 

Interest expense on debt

 

$

79.4

 

$

83.4

 

$

69.4

 

$

38.8

 

$

50.2

 

Amortization of discount on debt

 

3.2

 

3.0

 

1.6

 

1.3

 

.8

 

Interest portion of rental expense on operating leases

 

1.7

 

2.1

 

1.4

 

1.1

 

1.5

 

Total

 

$

84.3

 

$

88.5

 

$

72.4

 

$

41.2

 

$

52.5