EX-12 3 adm-ex12_20161231x10k.htm EXHIBIT 12 Exhibit
Exhibit 12

Calculation of Ratio of Earnings to Fixed Charges
Archer Daniels Midland Company
Expressed in Thousands


 
Year Ended June 30
Six Months Ended December 31
Years Ended December 31
 
2012
2012
2013
2014
2015
2016
Earnings
 
 
 
 
 
 
Earnings Before Income Taxes

$1,764,898

$
997,275

$
2,023,341

$
3,129,966

$
2,284,045

$
1,822,158

   Less: Equity in Earnings of
 
 
 
 
 
 
      Unconsolidated Affiliates, Net of
 
 
 
 
 
 
      Dividends
(243,121)

(200,833)

(285,263)

(214,979)

(49,693)

(60,870)

   Less: Capitalized Interest
 
 
 
 
 
 
      Included in Interest Expense Below
(20,869)

(11,548)

(16,434)

(17,863)

(10,761)

(19,602)

   Less: Noncontrolling Interest
(18,387)

(2,184)

(11,868)

(4,553)

3,089

(9,112)

Total Earnings
1,482,521

782,710

1,709,776

2,892,571

2,226,680

1,732,574

Fixed Charges
 
 
 
 
 
 
   Interest Expenses:
 
 
 
 
 
 
      Consolidated Interest Expense
441,765

212,527

412,810

336,633

307,941

292,547

      Capitalized Interest
20,869

11,548

16,434

17,863

10,761

19,602

   Total Interest Expense
462,634

224,075

429,244

354,496

318,702

312,149

   One Third of Rental Expenses
69,648

35,295

66,311

64,681

77,202

81,713

Total Fixed Charges
532,282

259,370

495,555

419,177

395,904

393,862

Earnings Available for Fixed Charges

$2,014,803


$1,042,080

$
2,205,331

$
3,311,748

$
2,622,584

$
2,126,436

Ratio of Earnings to Fixed Charges
3.79

4.02

4.45

7.90

6.62

5.40