EX-12 2 a2015q2ex12cce.htm RATIO OF EARNINGS TO FIXED CHARGES 2015 Q2 Ex 12 CCE


EXHIBIT 12
COCA-COLA ENTERPRISES, INC.
EARNINGS TO FIXED CHARGES
(in millions; except ratios)
 
 
Second Quarter
 
First Six Months
 
2015
 
2014
 
2015
 
2014
Computation of Earnings:
 
 
 
 
 
 
 
   Income before income taxes
$
243

 
$
266

  
$
373

 
$
421

      Add:
 
 
 
 
 
 
 
         Interest expense
31

 
30

  
61

 
58

         Amortization of debt premium/discount and expenses
—

 
—

 
1

 
1

         Interest portion of rent expense
6

 
6

  
12

 
12

   Earnings as adjusted
$
280

  
$
302

  
$
447

  
$
492

Computation of Fixed Charges:
 
 
 
 
 
 
 
   Interest expense
$
31

 
$
30

 
$
61

 
$
58

   Amortization of debt premium/discount and expenses
—

 
—

 
1

 
1

   Interest portion of rent expense
6

 
6

 
12

 
12

   Fixed charges
$
37

  
$
36

  
$
74

  
$
71

Ratio of Earnings to Fixed Charges(A)
7.39

 
8.23

 
6.01

 
6.86

___________________________ 
(A)
Ratios were calculated prior to rounding to millions.