EX-12 4 d456072dex12.htm STATEMENTS REGARDING COMPUTATION OF RATIO OF EARNINGS

Statements regarding computation of ratio of earnings

EXHIBIT 12

Calculation of Ratio of Earnings to Fixed Charges

Archer Daniels Midland Company

Expressed in Thousands

		2008				2009				2010				2011				2012				Q1FY2012.5
Earnings
Earnings Before Income Taxes		$	2,594,399			$	2,499,557			$	2,585,099			$	3,015,311			$	1,764,898			$	294,620
Less: Equity in Earnings of Affiliates, Net of Dividends			(284,316	)			55,367				(326,232	)			(396,755	)			(243,121	)			(84,243	)
Less: Capitalized Interest Included in Interest Expense Below			(52,110	)			(94,532	)			(75,060	)			(7,211	)			(20,869	)			(6,716	)
Less: Noncontrolling Interest			(6,103	)			(3,751	)			10,996				17,573				(18,387	)			(2,168	)
Total Earnings			2,251,870				2,456,641				2,194,803				2,628,918				1,482,521				201,493
Fixed Charges
Interest Expenses:
Consolidated Interest Expense			512,922				469,059				421,461				482,298				441,765				106,131
Capitalized Interest			52,110				94,532				75,060				7,211				20,869				6,716
Total Interest Expense			565,032				563,591				496,521				489,509				462,634				112,847
Amortization of Debt Discount			3,250				3,832				3,805				4,282
One Third of Rental Expenses			67,106				72,289				80,682				83,764				69,648				17,686
Total Fixed Charges			635,388				639,712				581,008				577,555				532,282				130,533
Earnings Available for Fixed Charges		$	2,887,258			$	3,096,353			$	2,775,811			$	3,206,473			$	2,014,803			$	332,026
Ratio of Earnings to Fixed Charges			4.54				4.84				4.78				5.55				3.79				2.54