Exhibit 12.1
Flowers Foods, Inc.
Computation of Ratios of Earnings to Fixed Charges
(000’s Omitted, Except Ratio Amounts)
| Twenty- Eight Weeks Ended July 15, 2017 | Fiscal Year | |||||||||||||||||||||||
| 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense | $ | 20,061 | $ | 34,905 | $ | 26,815 | $ | 28,288 | $ | 28,875 | $ | 23,411 | ||||||||||||
Interest portion of rent expense(1) | $ | 17,261 | $ | 32,452 | $ | 29,028 | $ | 29,564 | $ | 30,100 | $ | 25,600 | ||||||||||||
Total Fixed Charges | $ | 37,322 | $ | 67,357 | $ | 55,843 | $ | 57,852 | $ | 58,975 | $ | 49,011 | ||||||||||||
Earnings: | ||||||||||||||||||||||||
Income before income taxes | $ | 161,965 | $ | 249,537 | $ | 293,031 | $ | 268,054 | $ | 322,373 | $ | 208,772 | ||||||||||||
Plus: Fixed charges(2) | $ | 37,322 | $ | 67,357 | $ | 55,843 | $ | 57,852 | $ | 58,975 | $ | 49,011 | ||||||||||||
Earnings Available to Cover Fixed Charges | $ | 199,287 | $ | 316,894 | $ | 348,874 | $ | 325,906 | $ | 381,348 | $ | 257,783 | ||||||||||||
Ratio of Earnings to Fixed Charges | 5.3 | 4.7 | 6.2 | 5.6 | 6.5 | 5.3 | ||||||||||||||||||
| (1) | One-third of total rent expense is the portion deemed representative of the interest factor. |
| (2) | Fixed charges represent gross interest expense plus the interest portion of rent expense. |
