EX-12 4 a10kexhibit12fy14.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 10K Exhibit 12 FY14


Exhibit 12

ROCK-TENN COMPANY
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in millions, except ratios)

 
 
2010
 
2011
 
2012
 
2013
 
2014
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
69.4

 
$
81.2

 
$
108.9

 
$
96.8

 
$
85.0

Amortization of debt issuance costs
 
6.1

 
7.7

 
10.8

 
10.2

 
10.3

Interest capitalized during period
 
1.3

 
2.8

 
3.4

 
2.9

 
2.6

Portion of rent expense representative of interest
 
6.6

 
16.5

 
32.8

 
36.3

 
37.6

 
 
 
 
 
 
 
 
 
 
 
FIXED CHARGES
 
$
83.4

 
$
108.2

 
$
155.9

 
$
146.2

 
$
135.5

 
 
 
 
 
 
 
 
 
 
 
Earnings:
 
 
 
 
 
 
 
 
 
 
Pretax income from continuing operations attributable to Rock-Tenn Company shareholders
 
$
290.3

 
$
210.6

 
$
386.0

 
$
705.5

 
$
766.2

Share of distributed income of unconsolidated entities net of equity pick-up
 
(0.6
)
 
(1.1
)
 
(1.5
)
 
(3.0
)
 
(2.4
)
Fixed charges
 
83.4

 
108.2

 
155.9

 
146.2

 
135.5

Interest capitalized during period
 
(1.3
)
 
(2.8
)
 
(3.4
)
 
(2.9
)
 
(2.6
)
Amortization of interest capitalized
 
0.7

 
1.1

 
1.2

 
1.5

 
1.8

 
 
 
 
 
 
 
 
 
 
 
Earnings
 
$
372.5

 
$
316.0

 
$
538.2

 
$
847.3

 
$
898.5

 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
4.47

 
2.92

 
3.45

 
5.80

 
6.63