1 SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 ---------- FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ---------- Date of Report (Date of earliest event reported): November 12, 1999 SONOCO PRODUCTS COMPANY Incorporated under the laws Commission File No. 1-11261 I.R.S. Employer Identification of South Carolina No. 57-0248420 Post Office Box 160 Hartsville, South Carolina 29551-0160 Telephone: 843-383-7000
2 Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits The following exhibits are filed herewith: Exhibit 12 - Computation of Ratio of Earnings to Fixed Charges
3 S O N O C O P R O D U C T S C O M P A N Y SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. SONOCO PRODUCTS COMPANY (Registrant) Date: November 12, 1999 By: /s/ F. T. Hill, Jr. -------------------------- -------------------- F. T. Hill, Jr. Vice President and Chief Financial Officer
1 EXHIBIT 12 SONOCO PRODUCTS COMPANY Computation of Ratio of Earnings to Fixed Charges (Dollars in Thousands) Nine Months Ended Years Ended December 31, --------------------------------------------------------------------------- Sept. 26, 1999 1998 1997 1996 1995 1994 -------- -------- -------- -------- -------- -------- EARNINGS Pretax income - as reported 210,525 339,598 63,719 280,075 270,790 210,930 Less: (Gain) or Loss on assets held for sale (3,500) (100,354) 226,358 -- -- -- -------- -------- -------- -------- -------- -------- Pretax income - adjusted 207,025 239,244 290,077 280,075 270,790 210,930 Add: Fixed charges 46,385 68,380 69,484 69,223 54,537 45,494 Amortization of capitalized interest 422 634 498 378 378 378 -------- -------- -------- -------- -------- -------- Total Earnings 253,832 308,258 360,059 349,676 325,705 256,802 ======== ======== ======== ======== ======== ======== FIXED CHARGES Interest expense 37,230 54,779 57,194 55,481 44,004 35,861 Capitalized interest -- 1,353 -- 1,200 -- -- Amortization of bond discounts 155 248 290 209 200 300 Portion of rents representative of the interest factor 9,000 12,000 12,000 12,333 10,333 9,333 -------- -------- -------- -------- -------- -------- Total Fixed Charges 46,385 68,380 69,484 69,223 54,537 45,494 ======== ======== ======== ======== ======== ======== RATIO OF EARNINGS TO FIXED CHARGES 5.47 4.51* 5.18 5.05 5.97 5.64 ======== ======== ======== ======== ======== ======== * Pretax income includes $41,336 of one-time charges. Excluding these charges the ratio would be 5.09.