EX-12 3 ex12dec2012.htm EXHIBIT ex12dec2012




EXHIBIT 12

CROWN HOLDINGS, INC.

COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES

 
Twelve months ended
 
Twelve months ended
 
 
12/31/2012
 
12/31/2011
 
Computation of Earnings:
 
 
 
 
 
 
 
 
 
Income before income taxes, minority interests and equity earnings
$636
 
$587
 
 
 
 
 
 
Adjustments to income
 
 
 
 
 
 
 
 
 
     Add: Distributed income from less than 50% owned companies
1
 
4
 
 
 
 
 
 
     Add: Fixed charges as presented below
256
 
251
 
 
 
 
 
 
     Subtract: Interest capitalized
9
 
1
 
 
 
 
 
 
     Add: Amortization of interest previously capitalized
 
 
 
 
 
 
 
          Earnings
$902
 
$843
 
 
 
 
 
 
Computation of fixed charges:
 
 
 
 
 
 
 
 
 
     Interest incurred
$214
 
$222
 
 
 
 
 
 
     Interest capitalized
9
 
1
 
 
 
 
 
 
     Amortization of debt related costs
12
 
10
 
 
 
 
 
 
     Portion of rental expense representative of interest (1)
21
 
18
 
 
 
 
 
 
          Total fixed charges
$256
 
$251
 
 
 
 
 
 
          Ratio of earnings to fixed charges
3.5
 
3.4
 

(1)
One-third of net rent expense is the portion deemed representative of the interest factor.