EXHIBIT 12
SONOCO PRODUCTS COMPANY
Computation of Ratio of Earnings to Fixed Charges
(Dollars in Thousands)
Computation of Ratio of Earnings to Fixed Charges
(Dollars in Thousands)
Years Ended December 31, | ||||||||||||||||||||
2006 | 2005 | 2004 | 2003 | 2002 | ||||||||||||||||
EARNINGS | ||||||||||||||||||||
Pretax income | 274,808 | 231,126 | 197,342 | 108,333 | 183,106 | |||||||||||||||
Add: Distributed Income from affiliates | 9,496 | 6,766 | 7,114 | 11,327 | 3,626 | |||||||||||||||
Add: Fixed charges | 68,669 | 67,568 | 60,865 | 65,732 | 66,513 | |||||||||||||||
Amortization of capitalized interest | 2,115 | 1,911 | 1,868 | 1,868 | 2,136 | |||||||||||||||
Total Earnings | 355,088 | 307,371 | 267,189 | 187,260 | 255,381 | |||||||||||||||
Less: Capitalized Interest | (2,666 | ) | (2,042 | ) | (1,535 | ) | (2,000 | ) | (1,750 | ) | ||||||||||
Adjusted Earnings | 352,422 | 305,329 | 265,654 | 185,260 | 253,631 | |||||||||||||||
FIXED CHARGES | ||||||||||||||||||||
Interest expense | 51,952 | 51,559 | 47,463 | 52,399 | 54,196 | |||||||||||||||
Capitalized interest | 2,666 | 2,042 | 1,535 | 2,000 | 1,750 | |||||||||||||||
Portion of rents representative of the interest factor | 14,051 | 13,967 | 11,867 | 11,333 | 10,567 | |||||||||||||||
Total Fixed Charges | 68,669 | 67,568 | 60,865 | 65,732 | 66,513 | |||||||||||||||
Ratio of Earnings to Fixed Charges | 5.13 | 4.52 | 4.36 | 2.82 | 3.81 | |||||||||||||||