Attached files
| file | filename |
|---|---|
| EX-32 - CERTIFICATION PURSUANT TO RULE 13A-14(B), AS REQUIRED BY 18 U.S.C. SECTION 1350 - SNYDER'S-LANCE, INC. | lnce-12302017xex32.htm |
| EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER - SNYDER'S-LANCE, INC. | lnce-12302017xex312.htm |
| EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER - SNYDER'S-LANCE, INC. | lnce-12302017xex311.htm |
| EX-23.1 - CONSENT OF PRICEWATERHOUSECOOPERS LLP - SNYDER'S-LANCE, INC. | lnce-12302017xex231.htm |
| EX-21 - LIST OF THE SUBSIDIARIES OF THE REGISTRANT - SNYDER'S-LANCE, INC. | lnce-12302017xex21.htm |
| 10-K - 10-K - SNYDER'S-LANCE, INC. | lnce-12302017x10k.htm |
EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
The following table sets forth our computation of the ratio of earnings to fixed charges for the years ended as indicated. Amounts for all years have been adjusted to include only continuing operations.
(in thousands, except ratios) | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||
Income before income taxes | $ | 1,263 | $ | 67,123 | $ | 79,603 | $ | 91,508 | $ | 87,900 | ||||||||||
Plus: Fixed Charges | 53,836 | 45,406 | 20,221 | 22,049 | 22,979 | |||||||||||||||
Income available to cover fixed charges | $ | 55,099 | $ | 112,529 | $ | 99,824 | $ | 113,557 | $ | 110,879 | ||||||||||
Ratio of earnings to fixed charges | 1.0 | 2.5 | 4.9 | 5.2 | 4.8 | |||||||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense | $ | 39,305 | $ | 32,613 | $ | 11,142 | $ | 13,442 | $ | 14,653 | ||||||||||
Interest portion of rent expense (1) | 14,244 | 12,532 | 9,079 | 8,448 | 7,955 | |||||||||||||||
Capitalized interest | 287 | 261 | — | 159 | 371 | |||||||||||||||
Total fixed charges | $ | 53,836 | $ | 45,406 | $ | 20,221 | $ | 22,049 | $ | 22,979 | ||||||||||
(1) One-third of total rent expense is the portion deemed representative of the interest factor.
For the purposes of computing the ratio of earnings to fixed charges, earnings are defined as income before income taxes plus fixed charges. Fixed charges consist of interest expense (including capitalized interest) and the portion of rental expense that is representative of the interest factor.