Attached files
| file | filename |
|---|---|
| EX-31.2 - SECTION 302 CFO CERTIFICATION - HERSHEY CO | hsy_20151231exhibit312.htm |
| EX-31.1 - SECTION 302 CEO CERTIFICATION - HERSHEY CO | hsy_20151231exhibit311.htm |
| EX-21.1 - SUBSIDIARIES OF THE REGISTRANT - HERSHEY CO | hsy_20151231exhibit211.htm |
| EX-10.9 - FORM OF NOTICE OF AWARD OF RESTRICTED STOCK UNITS - HERSHEY CO | hsy_20151231exhibit109.htm |
| EX-32.1 - SECTION 906 CEO AND CFO CERTIFICATION - HERSHEY CO | hsy_20151231exhibit321.htm |
| EX-23.1 - INDEPENDENT AUDITORS CONSENT - HERSHEY CO | hsy_20151231exhibit231.htm |
| 10-K - THE HERSHEY COMPANY FORM 10-K - HERSHEY CO | a2015_formx10-kq4.htm |
| EX-10.18 - THE HERSHEY COMPANY EXECUTIVE BENEFITS PROTECTION PLAN (GROUP 3) - HERSHEY CO | hsy_20151231exhibit1018.htm |
EXHIBIT 12.1
THE HERSHEY COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
For the Years Ended December 31, 2015, 2014, 2013, 2012 and 2011
(in thousands of dollars except for ratios)
2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
Earnings: | |||||||||||||||||||
Income before income taxes | $ | 901,847 | $ | 1,306,043 | $ | 1,251,319 | $ | 1,015,579 | $ | 962,845 | |||||||||
Add (deduct): | |||||||||||||||||||
Interest on indebtedness | 80,983 | 87,598 | 91,514 | 98,509 | 94,780 | ||||||||||||||
Portion of rents representative of the interest factor (a) | 9,965 | 10,945 | 7,821 | 8,139 | 7,734 | ||||||||||||||
Amortization of debt expense | 1,279 | 1,118 | 1,115 | 1,245 | 1,149 | ||||||||||||||
Amortization of capitalized interest | 2,450 | 2,352 | 2,272 | 1,660 | 1,835 | ||||||||||||||
Adjustment to exclude noncontrolling interests in subsidiaries and income from equity investee | (3,850 | ) | 129 | (2,324 | ) | (12,950 | ) | (5,817 | ) | ||||||||||
Earnings as adjusted | $ | 992,674 | $ | 1,408,185 | $ | 1,351,717 | $ | 1,112,182 | $ | 1,062,526 | |||||||||
Fixed Charges: | |||||||||||||||||||
Interest on indebtedness | $ | 80,983 | $ | 87,598 | $ | 91,514 | $ | 98,509 | $ | 94,780 | |||||||||
Portion of rents representative of the interest factor (a) | 9,965 | 10,945 | 7,821 | 8,139 | 7,734 | ||||||||||||||
Amortization of debt expense | 1,279 | 1,118 | 1,115 | 1,245 | 1,149 | ||||||||||||||
Capitalized interest | 12,537 | 6,179 | 1,744 | 5,778 | 7,814 | ||||||||||||||
Total fixed charges | $ | 104,764 | $ | 105,840 | $ | 102,194 | $ | 113,671 | $ | 111,477 | |||||||||
Ratio of earnings to fixed charges | 9.48 | 13.30 | 13.23 | 9.78 | 9.53 | ||||||||||||||
(a) | Portion of rents representative of the interest factor consists of one-third of rental expense for operating leases. |