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EX-32.2 - CERTIFICATION OF OUR CFO PURSUANT TO SECTION 906 - Keurig Dr Pepper Inc.dps-ex322_20170930.htm
EX-32.1 - CERTIFICATION OF OUR CEO PURSUANT TO SECTION 906 - Keurig Dr Pepper Inc.dps-ex321_20170930.htm
EX-31.2 - CERTIFICATION OF OUR CFO PURSUANT TO SECTION 302 - Keurig Dr Pepper Inc.dps-ex312_20170930.htm
EX-31.1 - CERTIFICATION OF OUR CEO PURSUANT TO SECTION 302 - Keurig Dr Pepper Inc.dps-ex311_20170930.htm
EX-10.1 - DR PEPPER SNAPPLE GROUP, INC. SEVERANCE PAY PLAN FOR EXECUTIVES - Keurig Dr Pepper Inc.dps-ex101_20170930.htm
10-Q - FORM 10-Q - Keurig Dr Pepper Inc.dps-10qx093017.htm
Exhibit 12.1

DR PEPPER SNAPPLE GROUP, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions, except ratio amounts)
 
For the Nine Months Ended September 30,
 
For the Years Ended December 31,
 
2017
 
2016
 
2015
 
2014
 
2013
Calculation of fixed charges ratio:
 
 
 
 
 
 
 
 
 
Income before provision for income taxes, equity in earnings of unconsolidated subsidiaries and cumulative effect of change in accounting policy(2)
$
848

 
$
1,283

 
$
1,184

 
$
1,073

 
$
542

 
 
 
 
 
 
 
 
 
 
Add/(deduct):
 
 
 
 
 
 
 
 
 
Fixed charges
136

 
164

 
132

 
125

 
138

Amortization of capitalized interest
2

 
3

 
3

 
4

 
4

Capitalized interest

 
(3
)
 
(1
)
 
(2
)
 
(1
)
Total earnings available for fixed charges
$
986

 
$
1,447

 
$
1,318

 
$
1,200

 
$
683

 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
124

 
$
147

 
$
117

 
$
109

 
$
123

Capitalized interest

 
3

 
1

 
2

 
1

Interest component of rental expense(1)
12

 
14

 
14

 
14

 
14

Total fixed charges
$
136

 
$
164

 
$
132

 
$
125

 
$
138

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
7.2x

 
8.8x

 
10.0x

 
9.6x

 
4.9x

_________________________________
(1)
Represents a reasonable estimate of the interest component of rental expense incurred by us.

(2)
Due to the completion of the IRS audit for our 2006-2008 federal income tax returns in August 2013, we recognized $430 million of other expense, net, as we no longer anticipate collecting amounts from Mondelēz. Additionally, in June 2013, a bill was enacted by the Canadian government, which reduced amounts amortized for income tax purposes. As a result, we recognized $38 million of indemnity income due to the reduction of our long-term liability to Mondelēz.