EX-12.1 3 flo-ex121_6.htm EX-12.1

flo-ex121_6.htm

Exhibit 12.1

Flowers Foods, Inc.

Computation of Ratio of Earnings to Fixed Charges

Fiscal 2011 - 2015

(000’s Omitted, Except Ratio Amounts)

		Fiscal Year
		2015				2014				2013				2012				2011
Fixed Charges:
Interest expense		$	26,815			$	28,288			$	28,875			$	23,411			$	10,172
Interest portion of rent expense(1)		$	29,028			$	29,564			$	30,100			$	25,600			$	23,399
Total Fixed Charges		$	55,843			$	57,852			$	58,975			$	49,011			$	33,571
Earnings:
Income before income taxes		$	293,031			$	268,054			$	322,373			$	208,772			$	191,966
Plus: Fixed charges(2)		$	55,843			$	57,852			$	58,975			$	49,011			$	33,571
Earnings Available to Cover Fixed Charges		$	348,874			$	325,906			$	381,348			$	257,783			$	225,537
Ratio of Earnings to Fixed Charges			6.2				5.6				6.5				5.3				6.7

(1) One-third of total rent expense is the portion deemed representative of the interest factor.

(2) Fixed charges represent gross interest expense plus the interest portion of rent expense.