Exhibit 12
SONOCO PRODUCTS COMPANY
Computation of Ratio of Earnings to Fixed Charges
(Dollars in Thousands)
(Dollars in Thousands)
6 months | ||||||||||||||||||||||||
Ended | Years Ended December 31, | |||||||||||||||||||||||
June 25, 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | |||||||||||||||||||
EARNINGS | ||||||||||||||||||||||||
Pretax income — as reported | $ | 131,913 | $ | 231,126 | $ | 197,342 | $ | 108,333 | $ | 183,106 | $ | 159,979 | ||||||||||||
Add: Distributed Income from affiliates | 4,098 | 6,766 | 7,114 | 11,327 | 3,626 | 7,925 | ||||||||||||||||||
Add: Fixed charges | 34,576 | 67,568 | 60,865 | 65,732 | 66,513 | 66,472 | ||||||||||||||||||
Amortization of capitalized interest | 1,017 | 1,911 | 1,868 | 1,868 | 2,136 | 2,403 | ||||||||||||||||||
Total Earnings | $ | 171,604 | $ | 307,371 | $ | 267,189 | $ | 187,260 | $ | 255,381 | $ | 236,779 | ||||||||||||
Less: Capitalized Interest | (1,371 | ) | (2,042 | ) | (1,535 | ) | (2,000 | ) | (1,750 | ) | (2,085 | ) | ||||||||||||
Adjusted Earnings | $ | 170,233 | $ | 305,329 | $ | 265,654 | $ | 185,260 | $ | 253,631 | $ | 234,694 | ||||||||||||
FIXED CHARGES | ||||||||||||||||||||||||
Interest expense | $ | 26,117 | $ | 51,559 | $ | 47,463 | $ | 52,399 | $ | 54,196 | $ | 52,217 | ||||||||||||
Capitalized interest | 1,371 | 2,042 | 1,535 | 2,000 | 1,750 | 2,085 | ||||||||||||||||||
Portion of rents representative of the interest factor | 7,088 | 13,967 | 11,867 | 11,333 | 10,567 | 12,170 | ||||||||||||||||||
Total Fixed Charges | $ | 34,576 | $ | 67,568 | $ | 60,865 | $ | 65,732 | $ | 66,513 | $ | 66,472 | ||||||||||||
Ratio of Earnings to Fixed Charges | 4.92 | 4.52 | 4.36 | 2.82 | 3.81 | 3.53 | ||||||||||||||||||