Exhibit 12
SONOCO PRODUCTS COMPANY | |
Computation of Ratio of Earnings to Fixed Charges | |
(Dollars in thousands) |
Period | Years Ended December 31, | |||||||||||||||||||||||
Six months Ended July 3, | ||||||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||||||
EARNINGS | ||||||||||||||||||||||||
Pretax income | $ | 166,625 | $ | 328,075 | $ | 325,707 | $ | 292,709 | $ | 283,006 | $ | 284,406 | ||||||||||||
Add: Distributed income from affiliates | 4,575 | 8,131 | 9,809 | 13,631 | 9,329 | 11,676 | ||||||||||||||||||
Add: Fixed charges | 42,090 | 83,614 | 81,806 | 88,704 | 91,690 | 64,341 | ||||||||||||||||||
Add: Amortization of capitalized interest | 1,667 | 3,244 | 3,449 | 2,677 | 2,450 | 2,341 | ||||||||||||||||||
Total Earnings | 214,957 | 423,064 | 420,771 | 397,721 | 386,475 | 362,764 | ||||||||||||||||||
Less: Capitalized interest | (1,567 | ) | (2,571 | ) | (3,248 | ) | (5,946 | ) | (4,056 | ) | (3,113 | ) | ||||||||||||
Adjusted Earnings | $ | 213,390 | $ | 420,493 | $ | 417,523 | $ | 391,775 | $ | 382,419 | $ | 359,651 | ||||||||||||
FIXED CHARGES | ||||||||||||||||||||||||
Interest expense | $ | 28,281 | $ | 56,973 | $ | 55,140 | $ | 59,913 | $ | 64,114 | $ | 41,832 | ||||||||||||
Capitalized interest | 1,567 | 2,571 | 3,248 | 5,946 | 4,056 | 3,113 | ||||||||||||||||||
Portion of rents representative of the | ||||||||||||||||||||||||
interest factor | 12,242 | 24,070 | 23,418 | 22,845 | 23,520 | 19,396 | ||||||||||||||||||
Total Fixed Charges | $ | 42,090 | $ | 83,614 | $ | 81,806 | $ | 88,704 | $ | 91,690 | $ | 64,341 | ||||||||||||
Ratio of Earnings to Fixed Charges | 5.07 | 5.03 | 5.10 | 4.42 | 4.17 | 5.59 | ||||||||||||||||||