Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - Keurig Dr Pepper Inc. | dps-10qx093015.htm |
| EX-32.1 - CERTIFICATION OF OUR CEO PURSUANT TO SECTION 906 - Keurig Dr Pepper Inc. | dps-ex321_20150930.htm |
| EX-31.1 - CERTIFICATION OF OUR CEO PURSUANT TO SECTION 302 - Keurig Dr Pepper Inc. | dps-ex311_20150930.htm |
| EX-32.2 - CERTIFICATION OF OUR CFO PURSUANT TO SECTION 906 - Keurig Dr Pepper Inc. | dps-ex322_20150930.htm |
| EX-31.2 - CERTIFICATION OF OUR CFO PURSUANT TO SECTION 302 - Keurig Dr Pepper Inc. | dps-ex312_20150930.htm |
Exhibit 12.1
DR PEPPER SNAPPLE GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions, except ratio amounts)
For the Nine Months Ended | |||||||||||||||||||
September 30, | For the Fiscal Years | ||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
Calculation of fixed charges ratio: | |||||||||||||||||||
Income before provision for income taxes, equity in earnings of unconsolidated subsidiaries and cumulative effect of change in accounting policy(2) | $ | 893 | $ | 1,073 | $ | 542 | $ | 978 | $ | 925 | |||||||||
Add/(deduct): | |||||||||||||||||||
Fixed charges | 95 | 125 | 138 | 142 | 131 | ||||||||||||||
Amortization of capitalized interest | 3 | 4 | 4 | 3 | 2 | ||||||||||||||
Capitalized interest | (1 | ) | (2 | ) | (1 | ) | (2 | ) | (2 | ) | |||||||||
Total earnings available for fixed charges | $ | 990 | $ | 1,200 | $ | 683 | $ | 1,121 | $ | 1,056 | |||||||||
Fixed charges: | |||||||||||||||||||
Interest expense | $ | 83 | $ | 109 | $ | 123 | $ | 125 | $ | 114 | |||||||||
Capitalized interest | 1 | 2 | 1 | 2 | 2 | ||||||||||||||
Interest component of rental expense(1) | 11 | 14 | 14 | 15 | 15 | ||||||||||||||
Total fixed charges | $ | 95 | $ | 125 | $ | 138 | $ | 142 | $ | 131 | |||||||||
Ratio of earnings to fixed charges | 10.5x | 9.6x | 4.9x | 7.9x | 8.1x | ||||||||||||||
_________________________________
(1) | Represents a reasonable estimate of the interest component of rental expense incurred by us. |
(2) | Due to the completion of the IRS audit for our 2006-2008 federal income tax returns in August 2013, we recognized $430 million of other expense, net, as we no longer anticipate collecting amounts from Mondelēz. Additionally, in June 2013, a bill was enacted by the Canadian government, which reduced amounts amortized for income tax purposes. As a result, we recognized $38 million of indemnity income due to the reduction of our long-term liability to Mondelēz. |