EX-12 2 flo-ex12_7.htm EX-12 flo-ex12_7.htm

Exhibit 12

Flowers Foods, Inc.

Computation of Ratio of Earnings to Fixed Charges

Fiscal 2013 - 2017

(000’s Omitted, Except Ratio Amounts)

 

 

 

Fiscal Year

 

 

 

2017

 

 

2016

 

 

2015

 

 

2014

 

 

2013

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

36,557

 

 

$

34,905

 

 

$

26,815

 

 

$

28,288

 

 

$

28,875

 

Interest portion of rent expense(1)

 

$

31,671

 

 

$

32,452

 

 

$

29,028

 

 

$

29,564

 

 

$

30,100

 

Total Fixed Charges

 

$

68,228

 

 

$

67,357

 

 

$

55,843

 

 

$

57,852

 

 

$

58,975

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

$

149,293

 

 

$

249,537

 

 

$

293,031

 

 

$

268,054

 

 

$

322,373

 

Plus: Fixed charges(2)

 

$

68,228

 

 

$

67,357

 

 

$

55,843

 

 

$

57,852

 

 

$

58,975

 

Earnings Available to Cover Fixed Charges

 

$

217,521

 

 

$

316,894

 

 

$

348,874

 

 

$

325,906

 

 

$

381,348

 

Ratio of Earnings to Fixed Charges

 

 

3.2

 

 

 

4.7

 

 

 

6.2

 

 

 

5.6

 

 

 

6.5

 

 

(1)

One-third of total rent expense is the portion deemed representative of the interest factor.

(2)

Fixed charges represent gross interest expense plus the interest portion of rent expense.