Exhibit 12
RATIO OF EARNINGS TO FIXED CHARGES
Coca-Cola Bottling Co. Consolidated
Ratio of Earnings to Fixed Charges
|
| First Three Quarters |
|
| Fiscal Year |
| ||||||||||||||||||
(in thousands, except ratios) |
| 2017 |
|
| 2016 |
|
| 2015 |
|
| 2014 |
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| 2013 |
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| 2012 |
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Computation of Earnings: |
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Income before income taxes |
| $ | 33,875 |
|
| $ | 92,712 |
|
| $ | 99,122 |
|
| $ | 55,618 |
|
| $ | 44,244 |
|
| $ | 53,348 |
|
Add: |
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Interest expense |
|
| 29,892 |
|
|
| 34,475 |
|
|
| 26,905 |
|
|
| 27,337 |
|
|
| 27,474 |
|
|
| 33,104 |
|
Amortization of debt premium/discount and expenses |
|
| 806 |
|
|
| 1,855 |
|
|
| 2,011 |
|
|
| 1,938 |
|
|
| 1,933 |
|
|
| 2,242 |
|
Interest portion of rent expense(1) |
|
| 4,785 |
|
|
| 4,564 |
|
|
| 2,977 |
|
|
| 2,523 |
|
|
| 2,380 |
|
|
| 1,975 |
|
Earnings as adjusted |
| $ | 69,358 |
|
| $ | 133,606 |
|
| $ | 131,015 |
|
| $ | 87,416 |
|
| $ | 76,031 |
|
| $ | 90,669 |
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Computation of Fixed Charges: |
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Interest expense |
| $ | 29,892 |
|
| $ | 34,475 |
|
| $ | 26,905 |
|
| $ | 27,337 |
|
| $ | 27,474 |
|
| $ | 33,104 |
|
Capitalized interest |
|
| 398 |
|
|
| 489 |
|
|
| 348 |
|
|
| 173 |
|
|
| 177 |
|
|
| 111 |
|
Amortization of debt premium/discount and expenses |
|
| 806 |
|
|
| 1,855 |
|
|
| 2,011 |
|
|
| 1,938 |
|
|
| 1,933 |
|
|
| 2,242 |
|
Interest portion of rent expense(1) |
|
| 4,785 |
|
|
| 4,564 |
|
|
| 2,977 |
|
|
| 2,523 |
|
|
| 2,380 |
|
|
| 1,975 |
|
Fixed charges |
| $ | 35,881 |
|
| $ | 41,383 |
|
| $ | 32,241 |
|
| $ | 31,971 |
|
| $ | 31,964 |
|
| $ | 37,432 |
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Ratio of Earnings to Fixed Charges |
|
| 1.93 |
|
|
| 3.23 |
|
|
| 4.06 |
|
|
| 2.73 |
|
|
| 2.38 |
|
|
| 2.42 |
|
(1) | Interest portion of rent expense includes 1/3 of net rent expense. |
