EX-12 4 coke-ex12_347.htm EX-12 coke-ex12_347.htm

Exhibit 12

 

 

RATIO OF EARNINGS TO FIXED CHARGES

Coca-Cola Bottling Co. Consolidated

Ratio of Earnings to Fixed Charges

(In Thousands, Except Ratios)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2015

 

 

 

2014

 

 

 

2013

 

Computation of Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

$

 

99,122

 

 

 

$

 

55,618

 

 

 

$

 

44,244

 

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

 

26,905

 

 

 

 

 

27,337

 

 

 

 

 

27,474

 

Amortization of debt premium/discount and expenses

 

 

2011

 

 

 

 

1938

 

 

 

 

 

1,933

 

Interest portion of rent expense

 

 

2977

 

 

 

 

2523

 

 

 

 

 

2,380

 

Earnings as adjusted

 

$

 

131,015

 

 

 

$

 

87,416

 

 

 

$

 

76,031

 

Computation of Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

 

26,905

 

 

 

$

 

27,337

 

 

 

$

 

27,474

 

Capitalized interest

 

 

348

 

 

 

 

173

 

 

 

 

177

 

Amortization of debt premium/discount and expenses

 

 

2011

 

 

 

 

1938

 

 

 

 

 

1,933

 

Interest portion of rent expense

 

 

2977

 

 

 

 

2523

 

 

 

 

 

2,380

 

Fixed charges

 

$

 

32,241

 

 

 

$

 

31,971

 

 

 

$

 

31,964

 

Ratio of Earnings to Fixed Charges

 

 

4.06

 

 

 

 

2.73

 

 

 

 

2.38