Exhibit 12
RATIO OF EARNINGS TO FIXED CHARGES
Coca-Cola Bottling Co. Consolidated
Ratio of Earnings to Fixed Charges
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First Three Quarters |
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Fiscal Year |
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(in thousands, except ratios) |
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2016 |
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2015 |
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2014 |
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2013 |
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2012 |
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|
2011 |
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Computation of Earnings: |
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Income before income taxes |
|
$ |
52,525 |
|
|
$ |
99,122 |
|
|
$ |
55,618 |
|
|
$ |
44,244 |
|
|
$ |
53,348 |
|
|
$ |
51,551 |
|
Add: |
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Interest expense |
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|
26,115 |
|
|
|
26,905 |
|
|
|
27,337 |
|
|
|
27,474 |
|
|
|
33,104 |
|
|
|
33,669 |
|
Amortization of debt premium/discount and expenses |
|
|
1,510 |
|
|
|
2,011 |
|
|
|
1,938 |
|
|
|
1,933 |
|
|
|
2,242 |
|
|
|
2,330 |
|
Interest portion of rent expense |
|
|
3,107 |
|
|
|
2,977 |
|
|
|
2,523 |
|
|
|
2,380 |
|
|
|
1,975 |
|
|
|
1,746 |
|
Earnings as adjusted |
|
$ |
83,257 |
|
|
$ |
131,015 |
|
|
$ |
87,416 |
|
|
$ |
76,031 |
|
|
$ |
90,669 |
|
|
$ |
89,296 |
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Computation of Fixed Charges: |
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|
|
|
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|
|
|
|
|
|
|
|
|
Interest expense |
|
$ |
26,115 |
|
|
$ |
26,905 |
|
|
$ |
27,337 |
|
|
$ |
27,474 |
|
|
$ |
33,104 |
|
|
$ |
33,669 |
|
Capitalized interest |
|
|
404 |
|
|
|
348 |
|
|
|
173 |
|
|
|
177 |
|
|
|
111 |
|
|
|
159 |
|
Amortization of debt premium/discount and expenses |
|
|
1,510 |
|
|
|
2,011 |
|
|
|
1,938 |
|
|
|
1,933 |
|
|
|
2,242 |
|
|
|
2,330 |
|
Interest portion of rent expense |
|
|
3,107 |
|
|
|
2,977 |
|
|
|
2,523 |
|
|
|
2,380 |
|
|
|
1,975 |
|
|
|
1,746 |
|
Fixed charges |
|
$ |
31,136 |
|
|
$ |
32,241 |
|
|
$ |
31,971 |
|
|
$ |
31,964 |
|
|
$ |
37,432 |
|
|
$ |
37,904 |
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Ratio of Earnings to Fixed Charges |
|
|
2.67 |
|
|
|
4.06 |
|
|
|
2.73 |
|
|
|
2.38 |
|
|
|
2.42 |
|
|
|
2.36 |
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