EX-12.1 4 d366494dex121.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)

 

     Three Months
Ended
3/31/2012
    12/31/2011     1/1/2011     1/2/2010     12/27/2008     12/28/2007  

Earnings (losses):

            

Income (loss) before taxes

     7.2        40.5        78.4        63.3        (140.6     (82.6

Add

            

Fixed charges

     16.5        66.4        44.0        36.4        40.2        41.1   

Estimated amortization of capitalized interest

     0.2        0.1        0.0        0.0        0.0        0.0   

Less

            

Capitalized interest

     (0.2     (0.5     (0.2     0.0        0.0        0.0   

Income attributable to non-controlling interests

     (0.9     (3.6     (5.1     (4.6     (1.7     (2.7
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings (loss) as defined

     22.8        102.9        117.1        95.1        (102.1     (44.2

Fixed Charges:

            

Interest expense

     14.0        57.3        37.0        29.8        32.9        33.6   

Capitalized interest

     0.2        0.5        0.2        0.0        0.0        0.0   

Estimated interest component of rent

     2.3        8.6        6.8        6.6        7.3        7.5   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

     16.5        66.4        44.0        36.4        40.2        41.1   

Deficiency of earnings available to cover fixed charges (2)

     —          —          —          —          142.3        85.3   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

     1.4        1.5        2.7        2.6        —          —     

 

(1) We compute the ratio of earnings to fixed charges by dividing (i) earnings, which consists of income from continuing operations before income taxes plus fixed charges and estimated amortization of capitalized interest less interest capitalized during the period and income attributable to non-controlling interests, by (ii) fixed charges, which consist of interest expense, capitalized interest and the estimated interest component of rent.
(2) Earnings were insufficient to cover combined fixed charges and preference dividends by $85.3 million and $142.3 million in 2007 and 2008 respectively.