EX-12 8 dex12.htm STATEMENT RE COMPUTATIONS OF RATIOS Prepared by R.R. Donnelley Financial -- STATEMENT RE COMPUTATIONS OF RATIOS
EXHIBIT 12
 
COCA-COLA ENTERPRISES INC.
 
COMPUTATIONS OF RATIO OF EARNINGS TO FIXED CHARGES AND
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS
(In millions except ratios)
 
    
Fiscal Year
    
2001
     
2000
   
1999
   
1998
   
1997
Computation of Earnings:
                                     
Earnings (loss) from continuing operations before income taxes and cumulative effect of changes in accounting
   
$
(150
)
   
$
333
   
$
88
   
$
169
   
$
178
Add:
                                     
Interest expense
   
 
746
 
   
 
777
   
 
726
   
 
706
   
 
532
Amortization of capitalized interest
   
 
2
 
   
 
2
   
 
2
   
 
2
   
 
2
Amortization of debt premium/discount and expenses
   
 
12
 
   
 
20
   
 
29
   
 
27
   
 
25
Interest portion of rent expense
   
 
28
 
   
 
24
   
 
27
   
 
28
   
 
27
    
  
  
  
  
Earnings as Adjusted
   
$
638
 
   
$
1,156
   
$
872
   
$
932
   
$
764
    
  
  
  
  
Computation of Fixed Charges:
                                     
Interest expense
   
$
746
 
   
$
777
   
$
726
   
$
706
   
$
532
Capitalized interest
   
 
3
 
   
 
2
   
 
2
   
 
7
   
 
2
Amortization of debt premium/discount and expenses
   
 
12
 
   
 
20
   
 
29
   
 
27
   
 
25
Interest portion of rent expense
   
 
28
 
   
 
24
   
 
27
   
 
28
   
 
27
    
  
  
  
  
Fixed Charges
   
 
789
 
   
 
823
   
 
784
   
 
768
   
 
586
Preferred Stock Dividends (a)
   
 
4
 
   
 
5
   
 
6
   
 
2
   
 
2
    
  
  
  
  
Combined Fixed Charges and Preferred Stock Dividends
   
$
793
 
   
$
828
   
$
790
   
$
770
   
$
588
    
  
  
  
  
Ratio of Earnings to Fixed Charges (b)
   
 
.81
 
   
 
1.40
   
 
1.11
   
 
1.21
   
 
1.30
    
  
  
  
  
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends (b)
   
 
.80
 
   
 
1.40
   
 
1.10
   
 
1.21
   
 
1.30
    
  
  
  
  
 
(a)
 
Preferred stock dividends have been increased to an amount representing the pretax earnings which would be required to cover such dividend requirements.
(b)
 
Ratios were calculated prior to rounding to millions.