Exhibit 12.1
Flowers Foods, Inc.
Computation of Ratio of Earnings to Fixed Charges
Fiscal 2009 - 2013
(000’s Omitted, Except Ratio Amounts)
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| 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expense | $ | 28,875 | $ | 23,411 | $ | 10,172 | $ | 8,164 | $ | 11,587 | ||||||||||
Interest portion of rent expense (1) | $ | 30,100 | $ | 25,600 | $ | 23,399 | $ | 20,953 | $ | 19,569 | ||||||||||
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Total Fixed Charges | $ | 58,975 | $ | 49,011 | $ | 33,571 | $ | 29,117 | $ | 31,156 | ||||||||||
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Earnings: | ||||||||||||||||||||
Income before income taxes | $ | 322,373 | $ | 208,772 | $ | 191,966 | $ | 210,380 | $ | 207,759 | ||||||||||
Plus: Fixed charges (2) | $ | 58,975 | $ | 49,011 | $ | 33,571 | $ | 29,117 | $ | 31,156 | ||||||||||
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Earnings Available to Cover Fixed Charges | $ | 381,348 | $ | 257,783 | $ | 225,537 | $ | 239,497 | $ | 238,915 | ||||||||||
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Ratio of Earnings to Fixed Charges | 6.5 | 5.3 | 6.7 | 8.2 | 7.7 | |||||||||||||||
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| (1) | One-third of total rent expense is the portion deemed representative of the interest factor. |
| (2) | Fixed charges represents gross interest expense plus the interest portion of rent expense. |
