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As Of Filer Filing For·On·As Docs:Size 3/15/04 Pepsiamericas Inc/IL 10-K 1/03/04 13:2.3M |
Document/Exhibit Description Pages Size 1: 10-K Pepsiamericas, Inc. 2003 Form 10-K HTML 1.58M 5: EX-10 Pepsiamericas, Inc. Credit Agreement HTML 359K 2: EX-10 Pepsiamericas, Inc. Executive Deferred Comp. Plan HTML 249K 3: EX-10 Pepsiamericas, Inc. Supplemental Pension Plan HTML 142K 4: EX-10 Whitman Amend. 1 - 2000 Stock Incentive Plan HTML 11K 6: EX-12 Ratio of Earnings to Fixed Charges HTML 30K 7: EX-21 Subsidiaries of the Registrant HTML 16K 8: EX-23 Independent Auditors' Consent HTML 9K 9: EX-24 Power of Attorney HTML 17K 10: EX-31 302 Certification of Chief Executive Officer HTML 15K 11: EX-31 302 Certification of Chief Financial Officer HTML 15K 12: EX-32 906 Certification of Chief Executive Officer HTML 10K 13: EX-32 906 Certification of Chief Financial Officer HTML 10K
| Exhibit 12 - Ratio of Earnings to Fixed Charges |
| Exhibit 12 |
| PEPSIAMERICAS, INC. STATEMENT OF CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES (in millions, except ratios) |
| Fiscal Years | |||||||||||||||
| 2003 | 2002 | 2001 | 2000 | 1999 | |||||||||||
| Earnings: | |||||||||||||||
|
Income from continuing operations before income taxes and minority interest |
$ |
240.2 |
$ |
220.2 |
$ |
173.9 |
$ |
141.1 |
$ |
71.6 |
|||||
| Fixed charges | 84.4 | 83.4 | 99.8 | 91.7 | 73.5 | ||||||||||
| Earnings as adjusted | $ | 324.6 | $ | 303.6 | $ | 273.7 | $ | 232.8 | $ | 145.1 | |||||
| Fixed charges: | |||||||||||||||
| Interest expense | $ | 77.5 | $ | 77.1 | $ | 92.6 | $ | 85.8 | $ | 67.1 | |||||
| Portion of rents representative of interest factor | 6.9 | 6.3 | 7.2 | 5.9 | 6.4 | ||||||||||
| Total fixed charges | $ | 84.4 | $ | 83.4 | $ | 99.8 | $ | 91.7 | $ | 73.5 | |||||
| Ratio of earnings to fixed charges* | 3.8 | x | 3.6 | x | 2.7 | x | 2.5 | x | 2.0 | x | |||||
| * | PepsiAmericas, Inc. (the “Company”) recorded special charges totaling $6.4 million during fiscal year 2003. Excluding these special charges, the ratio of earnings to fixed charges for 2003 would have been 3.9x |
| The Company recorded special charges totaling $2.6 million in fiscal year 2002. Excluding these special charges, the ratio of earnings to fixed charges for 2002 would have been 3.6x. |
| In the fourth quarter of fiscal year 2001, PepsiAmericas, Inc. recorded special charges totaling $9.2 million. Additionally, the Company recorded a gain on pension curtailment of $8.9 million in the first quarter of 2001, as well as a special charge of $4.6 million. Excluding these special charges and credits, the ratio of earnings to fixed charges for 2001 would have been 2.8x. |
| PepsiAmericas, Inc. recorded a special charge of $21.7 million during fiscal year 2000. Excluding this charge, the ratio of earnings to fixed charges for 2000 would have been 2.8x. |
| PepsiAmericas, Inc. recorded special charges of $27.9 million during fiscal year 1999, as well as a $56.3 million pretax charge to reduce the book value of non-operating real estate. In addition, PepsiAmericas, Inc. recorded a $13.3 million pretax gain on the sale of operations in Marion, Virginia; Princeton, West Virginia; and the St. Petersburg area of Russia. Excluding these charges and credits, the ratio of earnings to fixed charges for 1999 would have been 2.9x. |