EX-12.1 3 dps-ex121_s3asr.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES DPS-EX12.1_S3ASR


DR PEPPER SNAPPLE GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions, except ratio amounts)
 
For the Three Months Ended March 31,
 
For the Years Ended December 31,
 
2013
 
2012
 
2011
 
2010
 
2009
 
2008
Calculation of fixed charges ratio:
 
 
 
 
 
 
 
 
 
 
 
Income (loss) before provision (benefit) for income taxes, equity in earnings of unconsolidated subsidiaries and cumulative effect of change in accounting policy
$
166

 
$
978

 
$
925

 
$
821

 
$
868

 
$
(375
)
 
 
 
 
 
 
 
 
 
 
 
 
Add/(deduct):
 
 
 
 
 
 
 
 
 
 
 
Fixed charges
38

 
142

 
131

 
147

 
265

 
285

Amortization of capitalized interest
1

 
3

 
2

 
2

 
2

 
1

Capitalized interest
—

 
(2
)
 
(2
)
 
(3
)
 
(8
)
 
(8
)
Total earnings available for fixed charges
$
205

 
$
1,121

 
$
1,056

 
$
967

 
$
1,127

 
$
(97
)
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
34

 
$
125

 
$
114

 
$
128

 
$
243

 
$
257

Capitalized interest
—

 
2

 
2

 
3

 
8

 
8

Interest component of rental expense(1)
4

 
15

 
15

 
16

 
14

 
20

Total fixed charges
$
38

 
$
142

 
$
131

 
$
147

 
$
265

 
$
285

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
5.4x

 
7.9x

 
8.1x

 
6.6x

 
4.3x

 
—

 
 
 
 
 
 
 
 
 
 
 
 
Deficiency in the coverage of earnings to fixed charges
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
382

_________________________________
(1)
Represents a reasonable estimate of the interest component of rental expense incurred by us.