EX-12 7 coke-ex12_8.htm EX-12 coke-ex12_8.htm

Exhibit 12

COCA-COLA BOTTLING CO. CONSOLIDATED

RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

Fiscal Year

 

(in thousands, except ratios)

 

2017

 

 

2016

 

 

2015

 

 

2014

 

 

2013

 

Computation of Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

$

63,006

 

 

$

92,712

 

 

$

99,122

 

 

$

55,618

 

 

$

44,244

 

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

40,928

 

 

 

34,475

 

 

 

26,905

 

 

 

27,337

 

 

 

27,474

 

Amortization of debt premium/discount and expenses

 

 

1,082

 

 

 

1,855

 

 

 

2,011

 

 

 

1,938

 

 

 

1,933

 

Interest portion of rent expense(1)

 

 

6,223

 

 

 

4,564

 

 

 

2,977

 

 

 

2,523

 

 

 

2,380

 

Earnings as adjusted

 

$

111,239

 

 

$

133,606

 

 

$

131,015

 

 

$

87,416

 

 

$

76,031

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Computation of Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

40,928

 

 

$

34,475

 

 

$

26,905

 

 

$

27,337

 

 

$

27,474

 

Capitalized interest

 

 

548

 

 

 

489

 

 

 

348

 

 

 

173

 

 

 

177

 

Amortization of debt premium/discount and expenses

 

 

1,082

 

 

 

1,855

 

 

 

2,011

 

 

 

1,938

 

 

 

1,933

 

Interest portion of rent expense(1)

 

 

6,223

 

 

 

4,564

 

 

 

2,977

 

 

 

2,523

 

 

 

2,380

 

Fixed charges

 

$

48,781

 

 

$

41,383

 

 

$

32,241

 

 

$

31,971

 

 

$

31,964

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

 

2.28

 

 

 

3.23

 

 

 

4.06

 

 

 

2.73

 

 

 

2.38

 

 

(1)

Interest portion of rent expense includes one-third of net rent expense.