EX-12 3 coke-ex12_9.htm EX-12

Exhibit 12

RATIO OF EARNINGS TO FIXED CHARGES

Coca-Cola Bottling Co. Consolidated

Ratio of Earnings to Fixed Charges

(In Thousands, Except Ratios)

|  | First Quarter |
|  | 2016 |  |  | 2015 |
Computation of Earnings: |  |  |  |  |  |  |  |
Income before income taxes |  | $ | (14,111 | ) |  | $ | 4,466 |
Add: |  |  |  |  |  |  |  |
Interest expense |  |  | 8,787 |  |  |  | 6,843 |
Amortization of debt premium/discount and expenses |  |  | 575 |  |  |  | 504 |
Interest portion of rent expense |  |  | 838 |  |  |  | 659 |
Earnings as adjusted |  | $ | (3,911 | ) |  | $ | 12,472 |
Computation of Fixed Charges: |  |  |  |  |  |  |  |
Interest expense |  | $ | 8,787 |  |  | $ | 6,843 |
Capitalized interest |  |  | 230 |  |  |  | 66 |
Amortization of debt premium/discount and expenses |  |  | 575 |  |  |  | 504 |
Interest portion of rent expense |  |  | 838 |  |  |  | 659 |
Fixed charges |  | $ | 10,430 |  |  | $ | 8,072 |
Ratio of Earnings to Fixed Charges |  |  | (A | ) |  |  | 1.55 |

| (A) | The ratio of earnings to fixes charges was less than 1.0x for the first quarter of 2016. The deficiency in the ratio of earnings to fixed charges was $14.3 million.