EX-12 5 exhibit12-1.txt EXHBIT 12.1 EXHIBIT 12.1 SONOCO PRODUCTS COMPANY Computation of Ratio of Earnings to Fixed Charges (Dollars in Thousands)
Six Months Ended Years Ended December 31, July 1, 2001 2000 1999 1998 1997 1996 ---- ---- ---- ---- ---- ---- EARNINGS Pretax income - as reported ........................... 60,227 270,595 289,560 339,598 63,719 280,075 Add: Fixed charges ................................... 34,874 76,094 67,509 68,380 69,484 69,223 Amortization of capitalized interest ......... 777 1,209 566 498 498 378 Total Earnings ............................................. 95,878 347,898 357,635 408,476 133,701 349,676 FIXED CHARGES Interest expense ...................................... 26,822 59,604 52,466 54,779 57,194 55,481 Capitalized interest .................................. 1,346 3,449 2,000 1,353 - 1,200 Amortization of bond discounts ........................ 306 508 210 248 290 209 Portion of rents representative of the interest factor .................................... 6,400 12,533 12,833 12,000 12,000 12,333 Total Fixed Charges ........................................ 34,874 76,094 67,509 68,380 69,484 69,223 Ratio of Earnings to Fixed Charges ......................... 2.75 4.57 5.30 5.97 1.92 5.05
1 EXHIBIT 12.1 SONOCO PRODUCTS COMPANY Computation of Ratio of Earnings to Fixed Charges - adjusted (Dollars in Thousands)
Six Months Ended Years Ended December 31, ----- ------------------------ July 1, 2001 2000 1999 1998 1997 1996 ---- ---- ---- ---- ---- ---- EARNINGS Pretax income - as reported .............................. 60,227 270,595 289,560 339,598 63,719 280,075 Less: (Gain) or Loss on assets held for sale ............ - (5,182) (3,500) (100,354) 226,358 - Pretax income - adjusted ................................. 60,227 265,413 286,060 239,244 290,077 280,075 Add: Fixed charges ...................................... 34,874 76,094 67,509 68,380 69,484 69,223 Amortization of capitalized interest ............ 777 1,209 566 498 498 378 Total Earnings ................................................ 95,878 342,716 354,135 308,122 360,059 349,676 FIXED CHARGES Interest expense ......................................... 26,822 59,604 52,466 54,779 57,194 55,481 Capitalized interest ..................................... 1,346 3,449 2,000 1,353 - 1,200 Amortization of bond discounts ........................... 306 508 210 248 290 209 Portion of rents representative of the interest factor ....................................... 6,400 12,533 12,833 12,000 12,000 12,333 Total Fixed Charges ........................................... 34,874 76,094 67,509 68,380 69,484 69,223 Ratio of Earnings to Fixed Charges ............................ 2.75 4.50 5.25 4.51 5.18 5.05 ======== ======== ======== ======== ======== ========
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