Attached files
EXHIBIT 12
COCA-COLA ENTERPRISES, INC.
EARNINGS TO FIXED CHARGES
(in millions; except ratios)
Year-ended December 31, | |||||||||||||||||||
2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||
Computation of Earnings: | |||||||||||||||||||
Income before income taxes | $ | 893 | $ | 805 | $ | 837 | $ | 945 | $ | 746 | |||||||||
Add: | |||||||||||||||||||
Interest expense | 120 | 107 | 101 | 90 | 66 | ||||||||||||||
Amortization of debt premium/discount and expenses | 3 | 2 | 1 | 1 | — | ||||||||||||||
Interest portion of rent expense | 29 | 30 | 29 | 29 | 27 | ||||||||||||||
Earnings as adjusted | $ | 1,045 | $ | 944 | $ | 968 | $ | 1,065 | $ | 839 | |||||||||
Computation of Fixed Charges: | |||||||||||||||||||
Interest expense | $ | 120 | $ | 107 | $ | 101 | $ | 90 | $ | 66 | |||||||||
Capitalized interest | — | 1 | — | — | — | ||||||||||||||
Amortization of debt premium/discount and expenses | 3 | 2 | 1 | 1 | — | ||||||||||||||
Interest portion of rent expense | 29 | 30 | 29 | 29 | 27 | ||||||||||||||
Fixed charges | $ | 152 | $ | 140 | $ | 131 | $ | 120 | $ | 93 | |||||||||
Ratio of Earnings to Fixed Charges(A) | 6.90 | 6.73 | 7.38 | 8.89 | 9.01 |
___________________________
(A) Ratios were calculated prior to rounding to millions.