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H.S. freshman Avg
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EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
INGREDION INCORPORATED
Computation of Ratios of Earnings to Fixed Charges
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(in millions, except ratios) |
| 2017 |
| 2016 |
| 2015 |
| 2014 |
| 2013 |
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Income before income taxes and earnings of non-controlling interests |
| $ | 769 |
| $ | 742 |
| $ | 599 |
| $ | 520 |
| $ | 547 |
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Fixed charges |
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| 86 |
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| 79 |
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| 74 |
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| 76 |
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| 80 |
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Capitalized interest |
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| (4) |
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| (4) |
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| (2) |
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| (2) |
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| (5) |
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Total |
| $ | 851 |
| $ | 817 |
| $ | 671 |
| $ | 594 |
| $ | 622 |
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RATIO OF EARNINGS TO FIXED CHARGES |
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| 9.9 |
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| 10.3 |
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| 9.0 |
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| 7.8 |
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| 7.8 |
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FIXED CHARGES: |
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Interest expense on debt |
| $ | 82 |
| $ | 75 |
| $ | 69 |
| $ | 71 |
| $ | 75 |
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Amortization of discount on debt |
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| 2 |
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| 2 |
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| 3 |
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| 3 |
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| 3 |
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Interest portion of rental expense on operating leases |
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| 2 |
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| 2 |
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| 2 |
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| 2 |
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| 2 |
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Total |
| $ | 86 |
| $ | 79 |
| $ | 74 |
| $ | 76 |
| $ | 80 |
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Ratio of earnings to fixed charges may not recalculate due to rounding.