EX-12.1 3 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

Cott Corporation

Ratio of Earnings to Fixed Charges (1)

(in millions of US dollars except for ratios)

 

         1/1/2005    12/31/2005    12/30/2006     12/28/2007     12/27/2008    

Three Months

Ended

3/28/2009

   

Earnings (losses):

                

Net income (loss) before taxes

     $ 114.1    $ 39.3    $ (33.8 )   $ (85.3 )   $ (142.3 )   $ 13.7

Add

                

Non-controlling interest

       4.0      4.5      3.8       2.7       1.7       0.9

Combined Fixed charges

       30.5      35.2      39.2       41.1       40.2       9.1
   

Earnings as defined

     $ 148.6    $ 79.0    $ 9.2     $ (41.5 )   $ (100.4 )   $ 23.7
   

Fixed Charges:

                

Interest expense

     $ 26.5    $ 29.3    $ 33.3     $ 33.6     $ 32.9     $ 7.6

Estimated interest component of rent

       4.0      5.9      5.9       7.5       7.3       1.5
   

Total fixed charges

     $ 30.5    $ 35.2    $ 39.2     $ 41.1     $ 40.2     $ 9.1

Deficiency of earnings available to cover fixed charges (2)

             35       88       145    
   

Ratio of earnings to fixed charges

       4.9      2.2      0.2                   2.6
   

(1) For purposes of computing these ratios of earnings to fixed charges and earnings to combined fixed charges, fixed charges consist of interest expense and an estimated interest component of rent. Earnings (losses) consist of net (loss) earnings applicable to common stock shareholders before income taxes plus combined fixed charges.

(2) Earnings were insufficient to cover combined fixed charges and preference dividends by $35 million, $88 million, and $145 million in 2006, 2007, and 2008, respectively.