EX-12 2 dex12.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges

EXHIBIT 12

COCA-COLA ENTERPRISES INC.

EARNINGS TO FIXED CHARGES

(in millions; except ratios)

 

     Three Months Ended     Six Months Ended  
     July 3,
2009
   June 27,
2008
    July 3,
2009
   June 27,
2008
 

Computation of Earnings:

          

Income (loss) before income taxes

   $ 408    $ (4,927   $ 494    $ (4,907

Add:

          

Interest expense

     134      142        289      281   

Amortization of capitalized interest

     —        —          1      1   

Amortization of debt premium/discount and expenses

     12      7        16      11   

Interest portion of rent expense

     18      20        36      39   
                              

Earnings (loss) as adjusted

   $ 572    $ (4,758   $ 836    $ (4,575
                              

Computation of Fixed Charges:

          

Interest expense

   $ 134    $ 142      $ 289    $ 281   

Capitalized interest

     —        —          —        1   

Amortization of debt premium/discount and expenses

     12      7        16      11   

Interest portion of rent expense

     18      20        36      39   
                              

Fixed charges

   $ 164    $ 169      $ 341    $ 332   
                              

Ratio of Earnings (Loss) to Fixed Charges (A)

     3.50      n/a  (B)      2.45      n/a  (B) 
                              

 

(A)

Ratios were calculated prior to rounding to millions.

 

(B)

Fixed charges exceeded our adjusted loss by $4.9 billion for the three and six months ended June 27, 2008.