Attached files
| file | filename |
|---|---|
| 10-Q - THE HERSHEY CO FORM 10-Q THIRD QUARTER 2015 - HERSHEY CO | hsy-20151004q3.htm |
| EX-31.1 - SECTION 302 CEO CERTIFICATION - HERSHEY CO | hsy_20151004exhibit311.htm |
| EX-31.2 - SECTION 302 CFO CERTIFICATION - HERSHEY CO | hsy_20151004exhibit312.htm |
| EX-32.1 - SECTION 906 CEO AND CFO CERTIFICATION - HERSHEY CO | hsy_20151004exhibit321.htm |
EXHIBIT 12.1
THE HERSHEY COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands of dollars except for ratios)
(unaudited)
Nine Months Ended | |||||||
October 4, 2015 | September 28, 2014 | ||||||
Earnings: | |||||||
Income before income taxes | $ | 605,306 | $ | 984,474 | |||
Add (deduct): | |||||||
Interest on indebtedness | 59,560 | 65,999 | |||||
Portion of rents representative of the interest factor (a) | 8,110 | 7,692 | |||||
Amortization of debt expense | 901 | 833 | |||||
Amortization of capitalized interest | 1,830 | 1,748 | |||||
Adjustment to exclude noncontrolling interests in subsidiaries and income from equity investee | (4,842 | ) | (156 | ) | |||
Earnings as adjusted | $ | 670,865 | $ | 1,060,590 | |||
Fixed Charges: | |||||||
Interest on indebtedness | $ | 59,560 | $ | 65,999 | |||
Portion of rents representative of the interest factor (a) | 8,110 | 7,692 | |||||
Amortization of debt expense | 901 | 833 | |||||
Capitalized interest | 9,314 | 3,838 | |||||
Total fixed charges | $ | 77,885 | $ | 78,362 | |||
Ratio of earnings to fixed charges | 8.61 | 13.53 | |||||
NOTE:
(a) | Portion of rents representative of the interest factor consists of one-third of rental expense for operating leases. |