Exhibit 12
CCPC HOLDING COMPANY, INC.
COMPUTATION OF RATIO OF EARNINGS TO
COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS
(DOLLARS IN THOUSANDS, EXCEPT RATIOS)
Nine Months Ended Fiscal Year Ended
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Sept. 30, Sept. 30, Dec. 31, Dec. 31, Dec. 31, Jan. 1, Jan. 2,
1998 1997 1997 1996 1995 1995 1994
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Income (loss) before taxes on income $(46,533) $ 12,646 $ 26,067 $ 7,906 $(19,994) $ 10,817 $(58,518)
Adjustments:
Distributed income of less than
50% owned companies 302 (232) (295) (105) (133) -- --
Fixed charges net of capitalized
interest 32,289 12,666 16,974 20,377 16,914 18,205 17,108
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Earnings before taxes and fixed
charges as adjusted $(13,942) $ 25,080 $ 42,746 $ 28,178 $ (3,213) $ 29,022 $(41,410)
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FIXED CHARGES:
Interest incurred $ 24,255 $ 7,568 $ 9,914 $ 13,609 $ 12,478 $ 12,849 $ 12,347
Portion of rent expense which
represents interest factor 5,754 5,831 8,000 8,000 6,000 6,342 5,767
Amortization of debt costs 2,764 -- -- -- -- -- --
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Total fixed charges 32,773 13,399 17,914 21,609 18,478 19,191 18,114
Capitalized interest (484) (733) (940) (1,232) (1,564) (986) (1,006)
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Total fixed charges net of
capitalized interest $ 32,289 $ 12,666 $ 16,974 $ 20,377 $ 16,914 $ 18,205 $ 17,108
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PREFERRED DIVIDENDS:
Preferred dividend requirements $ 1,827 -- -- -- -- -- --
Ratio of pre-tax income to income
before minority interest and
equity earnings 1.7 -- -- -- -- -- --
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Pre-tax preferred dividend
requirement 3,045 -- -- -- -- -- --
Total fixed charges 32,773 $ 13,399 $ 17,914 $ 21,609 $ 18,478 $ 19,191 $ 18,114
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Fixed charges and pre-tax preferred
dividend requirement $ 35,818 $ 13,399 $ 17,914 $ 21,609 $ 18,478 $ 19,191 $ 18,114
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RATIO OF EARNINGS TO COMBINED FIXED
CHARGES AND PREFERRED DIVIDENDS 1.9X 2.4X 1.3X 1.5X
DEFICIENCY OF EARNINGS TO COMBINED
FIXED CHARGES AND PREFERRED
DIVIDENDS 49,760 -- -- -- 21,691 -- 59,524