Attached files
| file | filename |
|---|---|
| EX-32.1 - EX-32.1 - GENERAL MILLS INC | c57075exv32w1.htm |
| EX-31.1 - EX-31.1 - GENERAL MILLS INC | c57075exv31w1.htm |
| EX-32.2 - EX-32.2 - GENERAL MILLS INC | c57075exv32w2.htm |
| EX-31.2 - EX-31.2 - GENERAL MILLS INC | c57075exv31w2.htm |
| EX-10.1 - EX-10.1 - GENERAL MILLS INC | c57075exv10w1.htm |
| EXCEL - IDEA: XBRL DOCUMENT - GENERAL MILLS INC | Financial_Report.xls |
| 10-Q - FORM 10-Q - GENERAL MILLS INC | c57075e10vq.htm |
Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Nine-Month | ||||||||||||||||||||||||||||
| Period Ended | Fiscal Year Ended | |||||||||||||||||||||||||||
| Feb. 28, | Feb. 22, | May 31, | May 25, | May 27, | May 28, | May 29, | ||||||||||||||||||||||
| In Millions, Except Ratios | 2010 | 2009 | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||||||||
Earnings before income taxes and
after-tax earnings from joint ventures |
$ | 1,858.6 | $ | 1,411.6 | $ | 1,942.2 | $ | 1,829.5 | $ | 1,696.2 | $ | 1,621.1 | $ | 1,848.6 | ||||||||||||||
Distributed income of equity investees |
32.5 | 29.9 | 68.5 | 108.7 | 45.2 | 77.4 | 83.0 | |||||||||||||||||||||
Plus: Fixed charges (1) |
306.2 | 328.7 | 463.4 | 494.6 | 496.8 | 462.8 | 524.1 | |||||||||||||||||||||
Plus: Amortization of capitalized
interest, net of interest capitalized |
11.2 | (1.4 | ) | (2.2 | ) | (2.0 | ) | — | 1.7 | 0.9 | ||||||||||||||||||
Earnings available to cover fixed
charges |
$ | 2,208.5 | $ | 1,768.8 | $ | 2,471.9 | $ | 2,430.8 | $ | 2,238.2 | $ | 2,163.0 | $ | 2,456.6 | ||||||||||||||
Ratio of earnings to fixed charges |
7.21 | 5.38 | 5.33 | 4.91 | 4.51 | 4.67 | 4.69 | |||||||||||||||||||||
(1) Fixed charges: |
||||||||||||||||||||||||||||
Interest expense |
$ | 283.5 | $ | 302.6 | $ | 409.5 | $ | 432.0 | $ | 396.6 | $ | 367.0 | $ | 449.3 | ||||||||||||||
Preferred distributions to
noncontrolling interests |
2.0 | 6.0 | 7.2 | 22.0 | 63.8 | 60.5 | 39.0 | |||||||||||||||||||||
Rentals (1/3) |
20.7 | 20.1 | 46.7 | 40.6 | 36.4 | 35.3 | 35.8 | |||||||||||||||||||||
Total fixed charges |
$ | 306.2 | $ | 328.7 | $ | 463.4 | $ | 494.6 | $ | 496.8 | $ | 462.8 | $ | 524.1 | ||||||||||||||
For purposes of computing the ratio of earnings to fixed charges, earnings represent earnings
before income taxes and after-tax earnings of joint ventures, distributed income of equity
investees, fixed charges, and amortization of capitalized interest, net of interest capitalized.
Fixed charges represent gross interest expense (excluding interest on taxes) and subsidiary
preferred distributions to noncontrolling interest holders, plus one-third (the proportion deemed
representative of the interest factor) of rent expense.