Snyder's-lance (LNCE) 10-K 2011 FY Annual report

EXHIBIT 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

The following table sets forth our computation of the ratio of earnings to fixed charges for the years ended as indicated:

(in thousands, except ratios)	2011		2010		2009		2008		2007
Income before income taxes	$	59,845	$	8,162	$	53,331	$	28,788	$	37,732
Plus: Fixed charges		18,049		7,297		5,853		5,209		4,950
Income available to cover fixed charges	$	77,894	$	15,459	$	59,184	$	33,997	$	42,682
Ratio of earnings to fixed charges		4.3		2.1		10.1		6.5		8.6
Fixed charges:
Interest expense	$	10,703	$	4,022	$	3,353	$	3,162	$	2,883
Interest portion of rent expense(1)		7,346		3,275		2,345		1,765		2,067
Capitalized interest		-		-		155		282		-
Total fixed charges	$	18,049	$	7,297	$	5,853	$	5,209	$	4,950

⁽¹⁾  One- third of total rent expense is the portion deemed representative of the interest factor.

For the purposes of computing the ratio of earnings to fixed charges, earnings are defined as income before income taxes plus fixed charges. Fixed charges consist of interest expense (including capitalized interest) and the portion of rental expense that is representative of the interest factor.