EX-12 4 a2193718zex-12.htm EX-12

Exhibit 12

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

BEMIS COMPANY, INC.

(in thousands of dollars except ratio data)

 

 

 

Three-Months Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months

 

 

 

 

 

 

 

 

 

 

 

 

 

Ended March 31,

 

For the Year Ended December 31,

 

 

 

2009

 

2008

 

2008

 

2007

 

2006

 

2005

 

2004

 

 

 

(unaudited)

 

 

 

 

 

 

 

 

 

 

 

EARNINGS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pretax income from continuing operations before adjustment for income or loss from equity investees

 

$

58,648

 

$

68,473

 

$

268,525

 

$

289,605

 

$

289,336

 

$

282,366

 

$

294,156

 

Fixed charges

 

6,739

 

10,211

 

43,583

 

56,083

 

54,032

 

41,334

 

16,186

 

Less: Capitalized interest

 

(313

)

(779

)

(2,557

)

(4,220

)

(2,871

)

(993

)

(178

)

Less: Preference security dividend requirements

 

(312

)

(312

)

(1,248

)

(1,073

)

(1,391

)

(1,183

)

0

 

Noncontrolling interest in pretax income of subsidiaries that have not incurred fixed charges

 

0

 

0

 

0

 

0

 

(6

)

(228

)

(126

)

Losses recognized in pre-tax income for less than 50% owned persons

 

(439

)

(509

)

(919

)

(933

)

(32

)

(874

)

(11,698

)

Capitalized interest amortization

 

211

 

205

 

841

 

803

 

752

 

734

 

770

 

TOTAL EARNINGS

 

$

64,534

 

$

77,289

 

$

308,225

 

$

340,265

 

$

339,820

 

$

321,156

 

$

299,110

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FIXED CHARGES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated interest
expense

 

$

6,023

 

$

9,029

 

$

39,413

 

$

50,268

 

$

49,252

 

$

38,737

 

$

15,503

 

Capitalized interest

 

313

 

779

 

2,557

 

4,220

 

2,871

 

993

 

178

 

Total interest expense

 

6,336

 

9,808

 

41,970

 

54,488

 

52,123

 

39,730

 

15,681

 

Interest inherent in rent expense

 

91

 

91

 

365

 

522

 

518

 

421

 

505

 

Preference security dividend requirements

 

312

 

312

 

1,248

 

1,073

 

1,391

 

1,183

 

0

 

TOTAL FIXED CHARGES

 

$

6,739

 

$

10,211

 

$

43,583

 

$

56,083

 

$

54,032

 

$

41,334

 

$

16,186

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

 

9.6

 

7.6

 

7.1

 

6.1

 

6.3

 

7.8

 

18.5