EX-12 6 g84281exv12.txt EX-12 EARNINGS TO COMBINED FIXED CHARGES EXHIBIT 12 COCA-COLA ENTERPRISES INC. EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (In millions except ratios) Quarter Ended Six Months Ended ----------------------- ----------------------- June 27, June 28, June 27, June 28, 2003 2002 2003 2002 -------- -------- -------- -------- Computation of Earnings: Income from continuing operations before income taxes..................... $374 $328 $416 $345 Add: Interest Expense....... 152 164 289 326 Amortization of capitalized interest.. 1 1 1 1 Amortization of debt premium/discount and expenses ........ 3 3 7 7 Interest portion of rent expense ........ 10 8 19 14 ---- ---- ---- ---- Earnings as Adjusted ....... $540 $504 $732 $693 ==== ==== ==== ==== Computation of Fixed Charges: Interest expense ..... $152 $164 $289 $326 Capitalized Interest.. -- 1 -- 1 Amortization of debt premium/discount and expenses ........ 3 3 7 7 Interest portion of rent expense ........ 10 8 19 14 ---- ---- ---- ---- Fixed Charges .............. $165 $176 $315 $348 Preferred stock dividends (a).............. 1 1 2 2 ---- ---- ---- ---- Combined Fixed Charges and Preferred Stock Dividends ................. $166 $177 $317 $350 ==== ==== ==== ==== Ratio of Earnings to Fixed Charges (b) ............... 3.26 2.87 2.32 1.99 ==== ==== ==== ==== Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends (b).............. 3.24 2.85 2.31 1.97 ==== ==== ==== ==== (a) Preferred stock dividends have been increased to an amount representing the pretax earnings which would be required to cover such dividend requirements. (b) Ratios were calculated prior to rounding to millions.