Exhibit 12.1
Cott Corporation
Ratio of Earnings to Fixed Charges (1)
(in millions of US dollars except for ratios)
| Nine Months Ended 9/26/2009 | Nine Months Ended 9/27/2008 | 12/27/2008 | 12/28/2007 | 12/30/2006 | 12/31/2005 | 1/1/2005 | ||||||||||||
Earnings (losses): | ||||||||||||||||||
Net income (loss) before taxes | 56.8 | (117.2 | ) | (142.3 | ) | (85.3 | ) | (33.8 | ) | 39.3 | 114.1 | |||||||
Add | ||||||||||||||||||
Minority interest | 3.5 | 1.3 | 1.7 | 2.7 | 3.8 | 4.5 | 4.0 | |||||||||||
Combined Fixed charges | 27.4 | 29.5 | 40.2 | 41.1 | 39.2 | 35.2 | 30.5 | |||||||||||
Earnings as defined | 87.7 | (86.4 | ) | (100.4 | ) | (41.5 | ) | 9.2 | 79.0 | 148.6 | ||||||||
Fixed Charges: | ||||||||||||||||||
Interest expense | 22.7 | 24.8 | 32.9 | 33.6 | 33.3 | 29.3 | 26.5 | |||||||||||
Estimated interest component of rent | 4.7 | 4.7 | 7.3 | 7.5 | 5.9 | 5.9 | 4.0 | |||||||||||
Total fixed charges | 27.4 | 29.5 | 40.2 | 41.1 | 39.2 | 35.2 | 30.5 | |||||||||||
Deficiency of earnings available to cover fixed charges (2) | — | 118 | 145 | 88 | 35 | — | — | |||||||||||
Ratio of earnings to fixed charges | 3.2 | — | — | — | 0.2 | 2.2 | 4.9 | |||||||||||
(1) For purposes of computing these ratios of earnings to fixed charges and earnings to combined fixed charges, fixed charges consist of interest expense and an estimated interest component of rent. Earnings (losses) consist of net (loss) earnings applicable to common stock shareholders before income taxes plus combined fixed charges.
(2) Earnings were insufficient to cover combined fixed charges and preference dividends by $35 million, $88 million, $145 million and $118 million in 2006, 2007, 2008 and the nine months ended September 27, 2008, respectively.