Keurig Dr Pepper (KDP) 10-Q 2014 Q2 Quarterly report

Exhibit 12.1

DR PEPPER SNAPPLE GROUP, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In millions, except ratio amounts)

	For the Six Months Ended June 30,			For the Fiscal Years
	2014			2013			2012			2011			2010
Calculation of fixed charges ratio:
Income before provision for income taxes, equity in earnings of unconsolidated subsidiaries and cumulative effect of change in accounting policy(2)	$	558		$	542		$	978		$	925		$	821
Add/(deduct):
Fixed charges	61			138			142			131			147
Amortization of capitalized interest	(2		)	4			3			2			2
Capitalized interest	(1		)	(1		)	(2		)	(2		)	(3		)
Total earnings available for fixed charges	$	616		$	683		$	1,121		$	1,056		$	967
Fixed charges:
Interest expense	$	53		$	123		$	125		$	114		$	128
Capitalized interest	1			1			2			2			3
Interest component of rental expense(1)	7			14			15			15			16
Total fixed charges	$	61		$	138		$	142		$	131		$	147
Ratio of earnings to fixed charges	10.04x			4.9x			7.9x			8.1x			6.6x

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

(2) Due to the completion of the IRS audit for our 2006-2008 federal income tax returns in August 2013, we recognized $430 million of other expense, net, as we no longer anticipate collecting amounts from Mondelēz. Additionally, in June 2013, a bill was enacted by the Canadian government, which reduced amounts amortized for income tax purposes. As a result, we recognized $38 million of indemnity income due to the reduction of our long-term liability to Mondelēz.