EXHIBIT 12
SONOCO PRODUCTS COMPANY
Computation of Ratio of Earnings to Fixed Charges
(Dollars in thousands)
Years Ended December 31 | ||||||||||||||||||||
2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||
EARNINGS | ||||||||||||||||||||
Pretax income | $ | 254,454 | $ | 214,221 | $ | 202,376 | $ | 255,626 | $ | 274,808 | ||||||||||
Add: Distributed income from affiliates | 17,123 | 5,563 | 7,632 | 8,435 | 9,496 | |||||||||||||||
Add: Fixed charges | 58,352 | 60,591 | 72,964 | 79,950 | 68,669 | |||||||||||||||
Amortization of capitalized interest | 2,303 | 2,301 | 2,161 | 2,245 | 2,115 | |||||||||||||||
Total Earnings | 332,232 | 282,676 | 285,133 | 346,256 | 355,088 | |||||||||||||||
Less: Capitalized interest | (3,817 | ) | (2,899 | ) | (1,917 | ) | (2,916 | ) | (2,666 | ) | ||||||||||
Adjusted Earnings | $ | 328,415 | $ | 279,777 | $ | 283,216 | $ | 343,340 | $ | 352,422 | ||||||||||
FIXED CHARGES | ||||||||||||||||||||
Interest expense | $ | 37,413 | $ | 40,992 | $ | 53,401 | $ | 61,440 | $ | 51,952 | ||||||||||
Capitalized interest | 3,817 | 2,899 | 1,917 | 2,916 | 2,666 | |||||||||||||||
Portion of rents representative of the interest factor | 17,122 | 16,700 | 17,646 | 15,594 | 14,051 | |||||||||||||||
Total Fixed Charges | $ | 58,352 | $ | 60,591 | $ | 72,964 | $ | 79,950 | $ | 68,669 | ||||||||||
Ratio of Earnings to Fixed Charges | 5.63 | 4.62 | 3.88 | 4.29 | 5.13 | |||||||||||||||