EX-12 4 d272393dex12.htm STATEMENTS REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Statements regarding computation of ratio of earnings to fixed charges

EXHIBIT 12

Calculation of Ratio of Earnings to Fixed Charges

Archer Daniels Midland Company

Expressed in Thousands

		2007				2008				2009				2010				2011				Q1 FY12
Earnings
Earnings Before Income Taxes			3,143,971				2,594,399				2,499,557				2,585,099				3,015,311				659,746
Less: Equity Earnings of Less than 50% Owned
Unconsolidated Affiliates			(193,258	)			(284,316	)			55,367				(326,232	)			(396,755	)			(56,962	)
Less: Capitalized Interest Included in Interest Expense
Below			(23,558	)			(52,110	)			(94,532	)			(75,060	)			(7,211	)			(3,724	)
Less: Noncontrolling Interest			(3,126	)			(6,103	)			(3,751	)			10,996				17,573				(919	)
Total Earnings			2,924,029				2,251,870				2,456,641				2,194,803				2,628,918				598,141
Fixed Charges
Interest Expenses:
Consolidated Interest Expense			447,310				512,922				469,059				421,461				482,298				112,925
Capitalized Interest			23,558				52,110				94,532				75,060				7,211				3,724
Total Interest Expense			470,868				565,032				563,591				496,521				489,509				116,649
Amortization of Debt Discount and Expense			1,793				3,250				3,832				3,805				4,282				1,353
One Third of Rental Expenses			55,187				67,106				72,289				80,682				83,764				20,245
Total Fixed Charges			527,848				635,388				639,712				581,008				577,555				138,247
Earnings Available for Fixed Charges			3,451,877				2,887,258				3,096,353				2,775,811				3,206,473				736,388
Ratio of Earnings to Fixed Charges			6.54				4.54				4.84				4.78				5.55				5.33