EX-12.1 32 dex121.htm COMPUTATION OF RATIO TO EARNINGS Computation of Ratio to Earnings

Exhibit 12.1

Cott Corporation

Ratio of Earnings to Fixed Charges (1)

(in millions of US dollars except for ratios)

 

     Six Months
Ended
7/3/2010
   Six Months
Ended
6/27/2009
   1/2/2010    12/27/2008     12/28/2007     12/30/2006      12/31/2005

Earnings (losses):

                  

Net income (loss) before taxes

   47.0    42.0    58.7    (142.3   (85.3   (33.8    39.3

Add

                  

Minority interest

   2.6    2.2    4.6    1.7      2.7      3.8       4.5

Combined Fixed charges

   15.5    18.4    36.3    40.2      41.1      39.2       35.2

Earnings as defined

   65.1    62.6    99.6    (100.4   (41.5   9.2       79.0

Fixed Charges:

                  

Interest expense

   12.3    15.1    29.7    32.9      33.6      33.3       29.3

Estimated interest component of rent

   3.2    3.3    6.6    7.3      7.5      5.9       5.9

Total fixed charges

   15.5    18.4    36.3    40.2      41.1      39.2       35.2

Deficiency of earnings available to cover fixed charges (2)

   —      —      —      145      88      35       —  

Ratio of earnings to fixed charges

   4.2    3.4    2.7    —        —        0.2       2.2

(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.