EX-12 11 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

EXHIBIT 12

DEAN FOODS COMPANY

COMPUTATION OF EARNINGS TO FIXED CHARGES

Computation of Ratio of Earnings to Fixed Charges for the Years Ended December 31, 2008, 2007, 2006, 2005 and 2004

 

     Year Ended December 31
     2008    2007    2006    2005    2004

Income from continuing operations before income taxes

   $ 299,677    $ 214,469    $ 455,713    $ 420,548    $ 344,679

Fixed charges:

              

Interest expense

     308,080      333,202      194,547      160,230      159,175

Portion of rentals (33%)

     49,107      44,546      44,099      42,990      39,891

Capitalized interest

     2,803      2,012      3,374      3,839      3,280
                                  

Total fixed charges

     359,990      379,760      242,020      207,059      202,346
                                  

Income from continuing operations before income taxes and fixed charges less capitalized interest and equity in earnings of unconsolidated affiliates

   $ 656,864    $ 592,217    $ 694,359    $ 623,768    $ 543,745
                                  

Ratio of earnings to fixed charges

     1.82      1.56      2.87      3.01      2.69