Registration of Securities Issued in a Business-Combination Transaction — Form S-4
Filing Table of Contents
Document/Exhibit Description Pages Size
1: S-4 Registration of Securities Issued in a 51 271K
Business-Combination Transaction
2: EX-4 Instrument Defining the Rights of Security Holders 77 291K
3: EX-5 Opinion re: Legality 2± 9K
4: EX-12 Statement re: Computation of Ratios 2 15K
5: EX-15 Letter re: Unaudited Interim Financial Information 1 9K
6: EX-15 Letter re: Unaudited Interim Financial Information 1 9K
7: EX-23 Consent of Experts or Counsel 1 7K
8: EX-25 Statement re: Eligibility of Trustee 5 23K
9: EX-99 Miscellaneous Exhibit 18 82K
10: EX-99 Miscellaneous Exhibit 5 17K
11: EX-99 Miscellaneous Exhibit 3 13K
12: EX-99 Miscellaneous Exhibit 3 12K
EX-12 — Statement re: Computation of Ratios
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Exhibit 12
SONOCO PRODUCTS COMPANY
Computation of Ratio of Earnings to Fixed Charges
(Dollars in Thousands)
[Enlarge/Download Table]
Six Months
Ended
June 27, Years Ended December 31,
-------- ------------------------
2004 2003 2002 2001 2000 1999
---- ---- ---- ---- ---- ----
EARNINGS
Pretax income - as reported ........................... 91,101 108,333 183,106 159,979 258,562 262,580
Less: (Gain) or Loss on assets held for sale ......... - - - - (5,182) (3,500)
-------- -------- -------- -------- -------- --------
Pretax income - adjusted .............................. 91,101 108,333 183,106 159,979 253,380 259,080
Add: Fixed charges ................................... 28,340 66,329 67,128 67,183 76,094 67,509
Amortization of capitalized interest ............ 934 1,868 2,136 2,403 1,209 566
-------- -------- -------- -------- -------- --------
Total Earnings ............................................. 120,375 176,530 252,370 229,565 330,683 327,155
Less: Capitalized Interest ................................. (990) (2,000) (1,750) (2,085) (3,449) (2,000)
-------- -------- -------- -------- -------- --------
Adjusted Earnings .......................................... 119,385 174,530 250,620 227,480 327,234 325,155
======== ======== ======== ======== ======== ========
FIXED CHARGES
Interest expense ...................................... 21,441 52,399 54,196 52,217 59,604 52,466
Capitalized interest .................................. 990 2,000 1,750 2,085 3,449 2,000
Amortization of bond discounts ........................ 242 597 615 711 508 210
Portion of rents representative of the
interest factor .................................... 5,667 11,333 10,567 12,170 12,533 12,833
-------- -------- -------- -------- -------- --------
Total Fixed Charges ........................................ 28,340 66,329 67,128 67,183 76,094 67,509
======== ======== ======== ======== ======== ========
Ratio of Earnings to Fixed Charges ......................... 4.21 2.63 3.73 3.39 4.30 4.82
======== ======== ======== ======== ======== ========
SONOCO PRODUCTS COMPANY
Computation of Pro Forma Ratio of Earnings to Fixed Charges
(Dollars in Thousands)
[Enlarge/Download Table]
Six Months Ended Year Ended
June 27, 2004 December 31, 2003
------------- -----------------
EARNINGS
Pretax income - as reported ................................................... 87,737 101,651
Less: (Gain) or Loss on assets held for sale ................................. - -
------- -------
Pretax income - adjusted ...................................................... 87,737 101,651
Add: Fixed charges ........................................................... 31,754 73,115
Amortization of capitalized interest .................................... 934 1,868
------- -------
Total Earnings ..................................................................... 120,426 176,633
Less: Capitalized Interest ......................................................... (990) (2,000)
------- -------
Adjusted Earnings .................................................................. 119,436 174,633
======= =======
FIXED CHARGES
Interest expense .............................................................. 24,805 59,082
Capitalized interest .......................................................... 990 2,000
Amortization of bond discounts ................................................ 293 700
Portion of rents representative of the
interest factor ............................................................ 5,667 11,333
------- -------
Total Fixed Charges ................................................................ 31,754 73,115
======= =======
Ratio of Earnings to Fixed Charges, pro forma ...................................... 3.76 2.39
======= =======
Ratio of Earnings to Fixed Charges, as reported .................................... 4.21 2.63
Percentage Change .................................................................. (11%) (9%)
Proceeds of New Debt ............................................................... 150,000
Additional Interest Expense (5.625%) ............................................... 4,127 8,438
Reduction of Interest Expense (1.17%) 2003 ......................................... - (1,755)
Reduction of Interest Expense (1.04%) 2004 ......................................... (763) -
------- -------
Total Adjustment to Interest Expense ............................................... 3,364 6,683
Additional Amortization of Bond Discounts .......................................... 51 103
Dates Referenced Herein and Documents Incorporated by Reference
6 Subsequent Filings that Reference this Filing
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