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