EX-12.1 2 exhibit121-statementregard.htm STATEMENT REGARDING THE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 - Statement Regarding Computation of Ratio of Earnings to Fixed Charges


EXHIBIT 12.1

Mead Johnson Nutrition Company
Computation of Ratio of Earnings to Fixed Charges
(Dollars in Millions)
 
Quarter Ended March 31,
 
Year Ended December 31,
 
 
 
 
 
 
 
 
 
 
 
 
 
2014
 
2013
 
2012
 
2011
 
2010
 
2009
Earnings before income taxes
278.8

 
924.3

 
770.3

 
646.0

 
653.3

 
569.2

Fixed Charges
14.7

 
72.8

 
79.0

 
67.5

 
60.6

 
101.3

Subtotal
293.5

 
997.1

 
849.3

 
713.5

 
713.9

 
670.5

Less: Capitalized Interest
(1.0
)
 
(5.7
)
 
(0.6
)
 
(0.2
)
 
(2.6
)
 
(0.9
)
Total Earnings
292.5

 
991.4

 
848.7

 
713.3

 
711.3

 
669.6

 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
Interest Expense
12.4

 
64.9

 
71.5

 
60.4

 
55.8

 
96.8

Estimated interest with rental expense
2.3

 
7.9

 
7.5

 
7.1

 
4.8

 
4.5

Total Fixed Charges
14.7

 
72.8

 
79.0

 
67.5

 
60.6

 
101.3

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
19.9

 
13.6

 
10.7

 
10.6

 
11.7

 
6.6

 
 
 
 
 
 
 
 
 
 
 
 
Estimated interest with rental expense
 
 
 
 
 
 
 
 
 
 
 
Rental Expense
11.3

 
39.7

 
37.4

 
35.5

 
24.1

 
23.0

% allocation to interest
20
%
 
20
%
 
20
%
 
20
%
 
20
%
 
20
%
 
2.3

 
7.9

 
7.5

 
7.1

 
4.8

 
4.5