EX-12.1 2 dps-ex121_20111231.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES DPS-EX12.1_2011.12.31
Exhibit 12.1

DR PEPPER SNAPPLE GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions, except ratio amounts)
 
For the Fiscal Years
 
2011
 
2010
 
2009
 
2008
 
2007
Calculation of fixed charges ratio:
 
 
 
 
 
 
 
 
 
Income (loss) before provision (benefit) for income taxes, equity in earnings of unconsolidated subsidiaries and cumulative effect of change in accounting policy
$
925

 
$
821

 
$
868

 
$
(375
)
 
$
817

 
 
 
 
 
 
 
 
 
 
Add/(deduct):
 
 
 
 
 
 
 
 
 
Fixed charges
131

 
147

 
265

 
285

 
274

Amortization of capitalized interest
2

 
2

 
2

 
1

 
1

Capitalized interest
(2
)
 
(3
)
 
(8
)
 
(8
)
 
(6
)
Total earnings available for fixed charges
$
1,056

 
$
967

 
$
1,127

 
$
(97
)
 
$
1,086

 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
114

 
$
128

 
$
243

 
$
257

 
$
253

Capitalized interest
2

 
3

 
8

 
8

 
6

Interest component of rental expense(1)
15

 
16

 
14

 
20

 
15

Total fixed charges
$
131

 
$
147

 
$
265

 
$
285

 
$
274

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
8.1x

 
6.6x

 
4.3x

 
—

 
4.0x

 
 
 
 

 
 
 
 
 
 
Deficiency in the coverage of earnings to fixed charges
$
—

 
$
—

 
$
—

 
$
382

 
$
—

_________________________________
(1)
Represents a reasonable estimate of the interest component of rental expense incurred by us.