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EXHIBIT 12
PEPSICO, INC. AND SUBSIDIARIES
Computation of Ratio of Earnings to Fixed Charges
(in millions except ratio amounts, unaudited)
12 Weeks Ended | |||||||
3/20/10 | 3/21/09 | ||||||
Earnings: |
|||||||
Income before income taxes |
$ | 1,401 | $ | 1,515 | |||
Unconsolidated affiliates interests, net |
50 | (31 | ) | ||||
Amortization of capitalized interest |
1 | 1 | |||||
Interest expense(a) |
154 | 98 | |||||
Interest portion of rent expense(b) |
34 | 29 | |||||
Earnings available for fixed charges |
$ | 1,640 | $ | 1,612 | |||
Fixed Charges: |
|||||||
Interest expense(a) |
$ | 154 | $ | 98 | |||
Capitalized interest |
2 | 2 | |||||
Interest portion of rent expense(b) |
34 | 29 | |||||
Total fixed charges |
$ | 190 | $ | 129 | |||
Ratio of Earnings to Fixed Charges(c) |
8.64 | 12.52 | |||||
(a) |
Excludes interest related to our reserves for income taxes as such interest is included in provision for income taxes. |
(b) |
One-third of net rent expense is the portion deemed representative of the interest factor. |
(c) |
Based on unrounded amounts. |