EX-12.1 5 a15-23372_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)

 

2015

 

2014

 

2013

 

2012

 

2011

 

Income before income taxes and earnings of non-controlling interests

 

$

598.6

 

$

520.1

 

$

546.8

 

$

600.6

 

$

593.4

 

Fixed charges

 

74.4

 

76.3

 

79.9

 

84.3

 

88.5

 

Capitalized interest

 

(2.3

)

(2.1

)

(4.3

)

(5.6

)

(5.2

)

Total

 

$

670.7

 

$

594.3

 

$

622.4

 

$

679.3

 

$

676.7

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

9.01

 

7.79

 

7.79

 

8.06

 

7.65

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES:

 

 

 

 

 

 

 

 

 

 

 

Interest expense on debt

 

$

68.9

 

$

71.3

 

$

74.6

 

$

79.4

 

$

83.4

 

Amortization of discount on debt

 

3.4

 

3.4

 

3.4

 

3.2

 

3.0

 

Interest portion of rental expense on operating leases

 

2.1

 

1.6

 

1.9

 

1.7

 

2.1

 

Total

 

$

74.4

 

$

76.3

 

$

79.9

 

$

84.3

 

$

88.5

 

 

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