Exhibit 12
CONSTELLATION BRANDS, INC. AND SUBSIDIARIES
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands of dollars)
| For the Years Ended February 28, |
For the Year Ended February 29, 2000 |
For the Year Ended February 28, 1999 | |||||||||||||
| 2003 |
2002 |
2001 |
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| Earnings: (a) |
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| Income before provision for income taxes |
334,936 | 229,959 | $ | 162,237 | $ | 128,959 | $ | 104,430 | |||||||
| Add fixed charges |
112,799 | 122,869 | 116,171 | 114,045 | 46,497 | ||||||||||
| Earnings |
$ | 447,735 | $ | 352,828 | $ | 278,408 | $ | 243,004 | $ | 150,927 | |||||
| Fixed Charges: |
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| Interest on debt and capitalized leases |
$ | 106,950 | $ | 116,387 | $ | 110,964 | $ | 110,017 | $ | 43,537 | |||||
| Amortization of direct financing costs |
3,693 | 4,068 | 3,137 | 2,215 | 1,867 | ||||||||||
| Amortization of discount on debt |
51 | 514 | 504 | 427 | 388 | ||||||||||
| Interest element of rentals |
2,105 | 1,900 | 1,566 | 1,386 | 705 | ||||||||||
| Total fixed charges |
$ | 112,799 | $ | 122,869 | $ | 116,171 | $ | 114,045 | $ | 46,497 | |||||
| Ratio of Earnings to Fixed Charges |
4.0 | 2.9 | 2.4 | 2.1 | 3.2 | ||||||||||
| (a) | For the purpose of calculating the ratio of earnings to fixed charges, “earnings” represent income before provision for income taxes plus fixed charges. “Fixed charges” consist of interest expensed and capitalized, amortization of debt issuance costs, amortization of discount on debt, and the portion of rental expense which management believes is representative of the interest component of lease expense. |