Attached files
| file | filename |
|---|---|
| EX-32 - EX-32 - Coca-Cola Consolidated, Inc. | coke-ex32_6.htm |
| EX-31.2 - EX-31.2 - Coca-Cola Consolidated, Inc. | coke-ex312_9.htm |
| EX-31.1 - EX-31.1 - Coca-Cola Consolidated, Inc. | coke-ex311_8.htm |
| 10-Q - 10-Q - Coca-Cola Consolidated, Inc. | coke-10q_20180401.htm |
Exhibit 12
COCA‑COLA BOTTLING CO. CONSOLIDATED
RATIO OF EARNINGS TO FIXED CHARGES
|
|
|
First Quarter |
|
|
Fiscal Year |
|
||||||||||||||||||
|
(in thousands, except ratios) |
|
2018 |
|
|
2017 |
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
2013 |
|
||||||
|
Computation of Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before income taxes |
|
$ |
(26,533 |
) |
|
$ |
63,006 |
|
|
$ |
92,712 |
|
|
$ |
99,122 |
|
|
$ |
55,618 |
|
|
$ |
44,244 |
|
|
Add: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
|
12,067 |
|
|
|
40,928 |
|
|
|
34,475 |
|
|
|
26,905 |
|
|
|
27,337 |
|
|
|
27,474 |
|
|
Amortization of debt premium/discount and expenses |
|
|
26 |
|
|
|
1,082 |
|
|
|
1,855 |
|
|
|
2,011 |
|
|
|
1,938 |
|
|
|
1,933 |
|
|
Interest portion of rent expense(1) |
|
|
1,821 |
|
|
|
6,223 |
|
|
|
4,564 |
|
|
|
2,977 |
|
|
|
2,523 |
|
|
|
2,380 |
|
|
Earnings (losses) as adjusted |
|
$ |
(12,619 |
) |
|
$ |
111,239 |
|
|
$ |
133,606 |
|
|
$ |
131,015 |
|
|
$ |
87,416 |
|
|
$ |
76,031 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Computation of Fixed Charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
$ |
12,067 |
|
|
$ |
40,928 |
|
|
$ |
34,475 |
|
|
$ |
26,905 |
|
|
$ |
27,337 |
|
|
$ |
27,474 |
|
|
Capitalized interest |
|
|
133 |
|
|
|
548 |
|
|
|
489 |
|
|
|
348 |
|
|
|
173 |
|
|
|
177 |
|
|
Amortization of debt premium/discount and expenses |
|
|
26 |
|
|
|
1,082 |
|
|
|
1,855 |
|
|
|
2,011 |
|
|
|
1,938 |
|
|
|
1,933 |
|
|
Interest portion of rent expense(1) |
|
|
1,821 |
|
|
|
6,223 |
|
|
|
4,564 |
|
|
|
2,977 |
|
|
|
2,523 |
|
|
|
2,380 |
|
|
Fixed charges |
|
$ |
14,047 |
|
|
$ |
48,781 |
|
|
$ |
41,383 |
|
|
$ |
32,241 |
|
|
$ |
31,971 |
|
|
$ |
31,964 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ratio of Earnings to Fixed Charges |
|
(2) |
|
|
|
2.28 |
|
|
|
3.23 |
|
|
|
4.06 |
|
|
|
2.73 |
|
|
|
2.38 |
|
|
|
(1) |
Interest portion of rent expense includes one-third of net rent expense. |
|
(2) |
The ratio of earnings to fixed charges was less than 1.00 for the first quarter of 2018. The deficiency in the ratio of earnings to fixed charges was $26.6 million. |